RIPPLE PRICE ANALYSIS CMP-$0.3930: Is there something fishy going on in XRP?

For the third time in the previous week, the XRP price

 beat the buyers at the $0.400 resistance level and turned into a hold.

XRP is currently trading at $0.39, up nearly 0.75%. The daily chart shows that the XRP price has been consolidating in recent days. It is trading just below the key resistance level of 0.400 and is consolidating at the 25-day and 50-day moving averages. It formed a symmetrical triangle pattern.

Ripple is trading below $0.4100 against the US dollar. To try a new rise in the near term, the XRP price must stay above $0.3800. This week, the ripple price fell from the $0.4100 level against the US dollar. The XRP/USD pair fell below the $0.4020 support level, entering a bearish zone in the short term.

The price even fell below the $0.4000 level. The bullish wave from the $0.3730 swing low to the $0.4117 high had a spike below the 50% Fib retracement line. The price dropped below $0.3920, reaching a low of $0.3838. A spike occurred below the 50% Fib retracement line of the uptrend from the $0.3457 swing low to the $0.4194 high.

The ripple price is now hovering near $0.3930 and the 100 hourly simple moving average. Overall, if the price breaks through the $0.4000 and $0.4120 resistance levels, it may begin a new upward trend. On the 4-hours chart, XRP is trading in the channel line. XRP is moving in a narrow range from the 03th Dec forming a rounding bottom pattern.

On the upside, resistance is located at $0.4000. The next significant resistance is near $0.4130. The major resistance is placed near $0.4200. A clear rise over the $0.4200 resistance zones might spark a new uptrend. In the suggested scenario, the price might possibly break over the $0.4500 resistance. Any further advances might push the price up to the $0.5000 barrier level.

On the downside, an initial support level is at $0.3900. On the 4-hours chart of the XRP/USD pair, a major bullish trend line is forming with support at $0.3900. The trend line is close to the 61.8% Fib level of the bullish wave from the $0.3730 swing low to the $0.4117 high. The next significant support is at $0.3740. The next major support level is at $0.3650. Any more losses might push the price towards the $0.3500 barrier, below which it could touch $0.3200.

According to Price Analysis, The market capitalization of this XRP is estimated to be $19,709,712,045. The coin's 24-hour trading volume is around $1,029,016,079. The market capitalization of XRP has decreased by 1.29%. During intraday trading, however, transaction volume fell by 35.59%.

KEY LEVELS :

RESISTANCE LEVEL : $0.4050-$0.4200

SUPPORT LEVEL : $0.3750-$0.3600

RIPPLE has been trading in the rising channel pattern since near last month. XRP is trading between $0.40 and $0.38, break will decide a new trend. Please give your opinion on which side the XRP breaks.