cryptocurrency

Ripple Price Analysis: The risk of a drop below $0.30

  • Ripple price started a new decline from the $0.3600 resistance level against the US Dollar.
  • The price is now trading below $0.350 and near the 55 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance near $0.3320 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could start a steady increase if it clears the $0.3320 and $0.3450 resistance levels.

Ripple price is consolidating above $0.300 against the US dollar, similar to Bitcoin. XRP price must remain above $0.3000 to avoid further losses in the near term.

Ripple price analysis

During the past week, the Ripple price experienced a bearish reaction below the $0.3500 level against the US Dollar. The XRP/USD pair fell below the $0.3350 support area to move into a bearish area.

The price even traded below the $0.3200 level and the 55 simple moving average (4-hours). It traded as low as $0.3194 and is currently collecting losses. On the upside, the price is facing resistance near $0.3320. It is near the 23.6% Fib retracement level of the recent decline from $0.3705 to the low of $0.3194.

There is also a major bearish trend line forming with resistance near $0.3320 on the 4-hour chart of the XRP/USD pair. The next major resistance is near the $0.3450 level.

It is close to the 50% Fib retracement level of the recent decline from $0.3705 to the low of $0.3194. A clear move above the $0.3450 and $0.3500 resistance areas may start a new rally. In the mentioned case, the price might surpass the $0.350 resistance.

Any further gains could send the price towards the $0.382 resistance. There is initial support on the downside near the $0.3250 level. The next major support is near the $0.3195 level. Any further losses could push the price towards the $0.3000 level, below which the price could test $0.2750.

Ripple price

look at me ScheduleRipple price is now trading below the $0.3500 area and near the 55 simple moving average (4 hours). In general, the price could start a steady increase if it crosses the $0.3320 and $0.3450 resistance levels.

Technical Indicators

4-hour MACD – The MACD for XRP/USD is losing momentum in the bearish zone.

4-hour RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.

Key Support Levels – $0.3250, $0.3195 and $0.3000.

The main resistance levels are $0.3320 and $0.3450.

Tags: ripple, XRP

#Ripple #Price #Analysis #risk #drop

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