Key HighlightsRipple price declined from the $0.5600 swing high with bearish moves against the US dollar. There is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps decline further and it could break the $0.5200 support for more losses in the near term. Ripple price is trading with a negative bias against the US Dollar and Bitcoin. XRP/USD could extend declines if there is a break below the $0.5200 support. Ripple Price SupportThere was a recovery wave initiated in Ripple price above the $0.5200 level against the US Dollar. The price moved above the $0.5400 and $0.5500 resistance levels. However, the upside move was capped by the $0.5650 zone where sellers appeared. A high was formed at $0.5681 before the price started a downside move. It declined and broke the $0.5500 support area. There was also a break below the 50% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high. The decline was such that the price settled below the $0.5400 level and the 100 hourly simple moving average. At the moment, the price is testing the 76.4% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high. The $0.5200 support area holds a lot of importance for the next move in the near term. Should there be a bearish break below $0.5200, the price could drop back towards the $0.5000 level in the near term. On the upside, there is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair. Looking at the chart, the price remains at a risk of more losses below $0.5200 as long as it is below $0.5400. Looking at the technical indicators:Hourly MACD – The MACD for XRP/USD is still in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is way below the 50 level. Major Support Level – $0.5200Major Resistance Level – $0.5400 Ripple Price Analysis: XRP/USD Sights Downside Break was last modified: June 18th, 2018 by Aayush Jindal