Ripple Price Analysis: XRP/USD’s Breakdown Looks Real

2018-8-9 10:52

Ripple price nosedived recently and broke the $0.4265 support against the US Dollar. XRP/USD breakdown below $0.3750 looks real and it could ignite more losses.

Key Talking Points

Ripple price failed to hold gains and it broke a crucial support $0.4265 against the US Dollar. There is a tiny connecting bullish trend line formed with support at $0.3430 on the 2-hours chart of the XRP/USD pair (Data feed via Bitstamp). The pair is moving higher, but it may perhaps find barriers on the upside near $0.3620 and $0.3672. Ripple Price Forecast

In the last analysis, we discussed a crucial support near $0.4265 in Ripple price against the US Dollar. The XRP/USD pair broke the stated support and tumbled below the $0.4000 and $0.3750 supports.

Looking at the chart, the price even broke the $0.3400 support and traded towards the $0.3180 level. A low was formed at $0.3199 and the price is currently correcting higher. It already moves past the 23.6% Fib retracement level of the last decline from the $0.4144 high to $0.3199 low.

Additionally, there is a tiny connecting bullish trend line formed with support at $0.3430 on the 2-hours chart of the XRP/USD pair. As long as the price is above the trend line and $0.3400, it could continue to correct higher.

However, gains could be contained near the $0.3620 and $0.3672 levels. An immediate resistance is the 38.2% Fib retracement level of the last decline from the $0.4144 high to $0.3199 low at $0.3560.

On the flip side, if the price breaks the trend line and $0.3400, it could resume its bearish move below the $0.3300 level. More importantly, if sellers gain traction, there are chances of more losses below the $0.3199 low.

Overall, ripple price breakdown below $0.3750 looks real and it remains at a risk of more declines. There could be short term recoveries, which are likely to face hurdles near the $0.3620 and $0.3672 levels. The most important resistance sits near $0.3750, which is the 61.8% Fib retracement level.

The market data is provided by TradingView.

The post Ripple Price Analysis: XRP/USD’s Breakdown Looks Real appeared first on Ethereum World News.

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Ripple (XRP) на Currencies.ru

$ 0.5345 (+0.06%)
Объем 24H $1.02b
Изменеия 24h: 0.93 %, 7d: 0.50 %
Cегодня L: $0.5238 - H: $0.5397
Капитализация $29.63b Rank 7
Цена в час новости $ 0.3419 (56.33%)

ripple price real looks xrp breakdown usd

Источник: ethereumworldnews.com

ripple price → Результатов: 126


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