Ripple Price Analysis: XRP Remains Sell On Rallies Towards $0.30

2019-2-7 08:00

Ripple price extended losses and tested the $0.2840-0.2850 support area against the US dollar. There is a major bearish trend line in place with resistance near $0.2920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting higher, but it is likely to face sellers near $0.2920, $0.2960 and $0.3000.

Ripple price is consolidating with corrective moves against the US Dollar and Bitcoin. XRP/USD could resume its decline once the current correction is complete near $0.2920-0.2950.

Ripple Price Analysis

Yesterday, there was a sharp decline below the $0.3000 support in ripple against the US Dollar. The XRP/USD pair remained in a bearish zone and later broke the $0.2920 and $0.2900 support levels. It tested the $0.2840-0.2850 support area and finally started a short term upside correction. The price is currently trading near the 23.6% Fib retracement level of the last decline from the $0.2987 high to $0.2851 low. However, there are many resistances on the upside near the $0.2920, $0.2960 and $0.3000 levels.

Besides, there is a major bearish trend line in place with resistance near $0.2920 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the last decline from the $0.2987 high to $0.2851 low. If there is a break above the trend line, the next resistance is near the $0.2940 and the 100 hourly simple moving average. To start a solid recovery, the price must break the $0.2950 and $0.3000 resistance levels. If not, the price remains at a risk of more losses below $0.2880 and $0.2850. The next key support below $0.2850 is at $0.2820, followed by $0.2800.

Looking at the chart, ripple price is trading well below the $0.2950 resistance and the 100 hourly SMA. Therefore, it remains in a bearish zone and any recovery from the current levels could face sellers near $0.2950.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently in the bullish zone, but it could move back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD just moved above the 50 level.

Major Support Level – $0.2850

Major Resistance Level – $0.2950

The post Ripple Price Analysis: XRP Remains Sell On Rallies Towards $0.30 appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 2.0718 (+1.04%)
Объем 24H $2.965b
Изменеия 24h: -0.69 %, 7d: -13.49 %
Cегодня L: $2.0417 - H: $2.0718
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Цена в час новости $ 0.2944 (603.74%)

price xrp ripple 2920 near pair towards

Источник: newsbtc.com

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