Ripple Price (XRP) Down 10%: Primed For More Losses

Ripple price started a major decline after it failed to stay above the $0.4000 support against the US dollar.
The price declined heavily and broke the $0.3850 and $0.3750 support levels.
There is a new connecting bearish trend line forming with resistance near $0.3850 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price is currently consolidating and remains at a risk of more losses below $0.3500.Ripple price declined sharply below $0.3750 against the US Dollar and down