Ripple (XRP) Price Breakdown Might Be The Game Changer

2019-12-12 07:28

Ripple price is declining and it recently broke the key $0.2200 support area against the US dollar. The price is likely to face hurdles near $0.2200 and $0.2240 in the near term. Yesterday’s key bearish trend line is intact with resistance near $0.2200 on the hourly chart of the XRP/USD pair (data source from Kraken). The bears are currently in control and they seem to be eyeing a test of the $0.2120 support.

Ripple price is now trading below key supports against the US Dollar and bitcoin. XRP price is likely to accelerate its decline below the $0.2160 and $0.2140 levels.

Ripple Price Analysis

After struggling to stay above the $0.2240 support, ripple price extended its decline against the US Dollar. XRP price traded below the $0.2200 support area to move into a downtrend.

Besides, there was a close below the $0.2200 support and the 100 hourly simple moving average. The price traded below the $0.2180 level and formed a new weekly low near the $0.2166 level.

It is currently correcting higher and trading above $0.2180. Moreover, there was a break above the 23.6% Fib retracement level of the recent decline from the $0.2231 high to $0.2166 low.

However, there are many hurdles on the upside, starting with $0.2200. Additionally, yesterday’s key bearish trend line is intact with resistance near $0.2200 on the hourly chart of the XRP/USD pair.

More importantly, the 50% Fib retracement level of the recent decline from the $0.2231 high to $0.2166 low is near the $0.2200 area. Therefore, an upside break above $0.2200 and $0.2205 won’t be easy in the near term.

If ripple price surpasses the $0.2200 resistance, it could recover towards the $0.2240 resistance area (the previous breakdown zone). Any further gains might change the trend and the price could recover towards the $0.2320 resistance.

On the other hand, the price might start a fresh decline from the $0.2200 resistance. An initial support is near the $0.2160 and $0.2150 levels. If the bears gain momentum below $0.2150, there is a risk of a drop towards $0.2120 or even $0.2100.

Ripple Price

Looking at the chart, ripple price is back in a bearish zone below the $0.2240 and $0.2200 levels. Thus, the recent breakdown is likely to lead the price towards $0.2100. Conversely, a close above $0.2240 might negate the current bearish scenario.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting higher towards the 40 level.

Major Support Levels – $0.2160, $0.2150 and $0.2120.

Major Resistance Levels – $0.2200, $0.2240 and $0.2260.

The post Ripple (XRP) Price Breakdown Might Be The Game Changer appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.1108 (-1.03%)
Объем 24H $6.636b
Изменеия 24h: -1.67 %, 7d: 56.10 %
Cегодня L: $1.0851 - H: $1.132
Капитализация $63.238b Rank 6
Цена в час новости $ 0.2687 (313.4%)

near price 2200 key ripple 2240 face

Источник: newsbtc.com

near price → Результатов: 126


Here’s Why AI Crypto Near Protocol (NEAR) Price Is Up This Week

The decentralized application platform NEAR Protocol (NEAR) has experienced a significant price rally over the past seven days, with its native cryptocurrency rising by an impressive 35%. This surge comes as the project continues to garner attention for its innovative approach to improving the user experience and scalability of blockchain technology.

2024-4-25 00:20


Ether Price Analysis: Historic Support Tested Amid Signs of Distribution

It’s been weeks since ether has seen a new high or a new low and the market has found itself range-bound. At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests:Figure 1: ETHUSD, 4 Hour Candles, Trading RangeSo far, for the last few weeks, ether has seen a trend of higher lows and low highs (the converging red trendlines).

2018-10-20 01:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP достиг $1 раньше Dogecoin и Cardano

XRP ошеломил крипторынок, превысив $1, опередив Cardano (ADA) и Dogecoin (DOGE). До этого скачка криптосообщество было вовлечено в дебаты о том, какие активы среди XRP, ADA и DOGE первыми достигнут отметки $1.

XRP Crosses $1: What’s Next?

XRP has surged past the $1 threshold for the first time since December 2021. This breakthrough comes as investors closely watch the token’s trajectory, buoyed by significant legal victories and shifting regulatory sentiments.

XRP breaks $1, hits 3 year high as open interest goes above $2 billion

Ripple’s XRP has reached a three-year high, surpassing $1 as open interest in the digital asset hit an all-time peak of over $2 billion. Over the weekend, XRP briefly touched $1. 19, its highest level since 2021, before settling around $110, according to CryptoSlate’s data.

XRP price surged to $1: will Stellar Lumens XLM be next?

Ripple’s price has gone parabolic, rising for three consecutive weeks as investors respond positively to Donald Trump’s election and its potential impact on the cryptocurrency market. Ripple (XRP) token crossed the important resistance at $1 for the first time since…