XRP Price Crashes Over 20%, Why Breakdown Looks Real Deal

2023-8-18 07:28

Ripple’s token price is down over 20% against the US Dollar. XRP price is gaining bearish momentum and might revisit the $0.40 zone.

Ripple’s token price is moving lower from the $0.620 resistance against the US dollar. The price is now trading below $0.55 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.585 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might continue to decline toward the $0.42 and $0.40 levels. Ripple’s Token Price Plunges To $0.40

After struggling to rise above the $0.65 resistance, Ripple’s XRP started a fresh decline against the US Dollar. There was a strong decline below the $0.550 support zone, similar to Bitcoin and Ethereum.

The price is down over 20% and there was even a spike below $0.420. A low is formed near $0.3994 and the price is now attempting a recovery wave. There was a wave above the $0.45 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6365 swing high to the $0.3994 low.

XRP is now trading below $0.55 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.585 on the 4-hour chart of the XRP/USD pair.

Initial resistance on the upside is near the $0.520 zone. It is close to the 50% Fib retracement level of the downward move from the $0.6365 swing high to the $0.3994 low. The next major resistance is near the $0.550 level. The main resistance is now forming near the $0.585 zone and the trend line.

Source: XRPUSD on TradingView.com

A successful break above the $0.585 resistance level might send the price toward the $0.62 resistance or the 100 simple moving average (4 hours). Any more gains might call for a test of the $0.650 resistance.

Another Decline in XRP?

If ripple fails to clear the $0.550 resistance zone, it could start another decline. Initial support on the downside is near the $0.480 zone.

The next major support is near $0.455. If there is a downside break and a close below the $0.455 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.400 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.48, $0.455, and $0.400.

Major Resistance Levels – $0.520, $0.550, and $0.585.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price token against xrp dollar ripple zone

Источник: newsbtc.com

price token → Результатов: 126


HeartChain ICO

HeartChain will be a pioneer in providing decentralized, global sponsorship network designed specifically for the medical technology industry. We will remove funding hurdles for medical innovators, and speed up the time taken for new products to reach the market, where they start earning for their creators.

2018-9-26 23:33


Фото:

Travis Kling Is Launching a Cryptocurrency Hedge Fund – Aiming for $100,000,000 Token Portfolio

Travis Kling, former manager of Steven Cohen’s Point72 hedge fund, is launching his own hedge fund in October. He left Point72 in December 2017 at the height of the cryptocurrency bull market. Since then, the size of the cryptocurrency market has shrunk by over 70 percent, and the overall price sentiment is bearish even though a lot […] Travis Kling Is Launching a Cryptocurrency Hedge Fund – Aiming for $100,000,000 Token Portfolio was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-26 13:49


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru