- Ripple trades 3.5% lower as crypto sentiment remains weak on Monday.
- The price has made a bearish failure swing on the RSI indicator.
XRP/USD 4-Hour Chart
Ripple has had a very tough couple of months falling from just above 0.31 to below 0.20.
Today the price has made a bearish failure swing on the RSI indicator. This is when the price makes lower highs but the indicator makes higher highs.
This is usually a sign that the momentum is turning back lower and the retracement has run out of steam.
Looking at the chart you can also see that the price has bounced off of the blue 55 period EMA.
The main support zone for XRP/USD is now 0.1760, which is the wave low on the chart.
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