XRP Price Shows Confluence Of Bearish Factors and Could Decline Again

2023-8-22 07:50

Ripple’s token price is showing bearish signs below $0.580 against the US Dollar. XRP price could start another decline if it trades below $0.480.

Ripple’s token price is struggling to recover above $0.550 and $0.580 against the US dollar. The price is now trading below $0.56 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.580 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might start another decline if there is a break below $0.480. Ripple’s Token Price Faces Uphill Task

After a major decline to $0.40, Ripple’s XRP started an upside correction against the US Dollar. The price recovered a few points above the $0.45 and $0.48 resistance levels, similar to Bitcoin and Ethereum.

The bulls pushed the price above the 50% Fib retracement level of the main decline from the $0.6654 swing high to the $0.3995 low. The price climbed above the $0.50 level. However, the bears are active near the $0.550 resistance zone.

XRP is now trading below $0.56 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.580 on the 4-hour chart of the XRP/USD pair.

Initial resistance on the upside is near the $0.550 zone. The next major resistance is near the $0.565 level or the 61.8% Fib retracement level of the main decline from the $0.6654 swing high to the $0.3995 low. The main resistance is now forming near the $0.580 zone and the trend line.

Source: XRPUSD on TradingView.com

A successful break above the $0.580 resistance level might send the price toward the $0.60 resistance or the 100 simple moving average (4 hours). Any more gains might call for a test of the $0.6650 resistance.

Another Drop in XRP?

If ripple fails to clear the $0.565 resistance zone, it could start another decline. Initial support on the downside is near the $0.500 zone.

The next major support is near $0.480. If there is a downside break and a close below the $0.480 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 losing 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 – $0.50, $0.480, and $0.40.

Major Resistance Levels – $0.550, $0.565, and $0.580.

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 ripple xrp below could decline

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

XRP Could Be The Altcoin To Recover Quickly, CryptoQuant Analyst Explains Why

XRP has crashed alongside the rest of the cryptocurrency market, but this analyst thinks the asset could be the one to find a quick recovery. XRP Has Been The Top Traded Altcoin On Binance This Month In a new CryptoQuant Quicktake post, community analyst Maartunn has talked about how the altcoins currently compare against each other based on their monthly Binance futures trading volumes.

XRP Whales Loading Up – Data Reveals Buying Activity

XRP has faced a sharp downturn over the past few days, shedding over 23% of its value since Tuesday. This steep correction has mirrored the broader market’s turbulence, intensifying negative sentiment around XRP.

XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals

An analyst has pointed out how XRP and Solana are among the altcoins that have just observed a Tom Demark (TD) Sequential buy signal on their 4-hour prices. Four Altcoins Are Seeing A Buy Signal On The TD Sequential In a new post on X, analyst Ali Martinez has talked about the TD Sequential signal that four different altcoins have seen on their 4-hour charts.

XRP Price Shows Resilience While BTC Sinks Deeper

XRP price remained stable above the $2. 20 support zone. The price is consolidating and might aim for a fresh increase above the $2. 40 resistance. XRP price remained stable above the $2. 20 zone. The price is now trading below $2.