cryptocurrency

Ripple Price Analysis: Risk of More Downside Below $0.325

  • Ripple price started a new decline from the $0.3900 resistance level against the US Dollar.
  • The price is now trading below $0.355 and the 55 simple moving average (4-hours).
  • There was a break below the major uptrend line with support near $0.3780 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair may continue to decline if it breaches the $0.330 and $0.325 support levels.

Ripple price drops below $0.355 against the US dollar, similar to Bitcoin. XRP price must remain above $0.3250 to avoid further losses in the near term.

Ripple price analysis

After forming a base near the $0.3650 region, the Ripple price started a new high against the US Dollar. The XRP/USD pair managed to breach the $0.3780 resistance area.

The price broke the $0.3880 resistance and the 55 simple moving average (4-hours). However, there was no move above the $0.4000 resistance area. A top formed near $0.3919 before there was a fresh low. The price dropped below the $0.3800 support area.

There was a clear move below the $0.3750 level and the 55 simple moving average (4-hours). Besides, there was a break below the major uptrend line with the support near $0.3780 on the 4-hour chart of the XRP/USD pair.

The pair traded as low as $0.3319 and is currently consolidating losses. On the upside, the price is facing resistance near $0.3450. It is near the 23.6% Fib retracement level of the recent decline from $0.3919 to the low of $0.3319.

The next major resistance is near the $0.3600 level. It is close to the 50% Fib retracement level of the recent decline from $0.3919 to the low of $0.3319. A clear move above the $0.3600 and $0.3620 resistance areas may start a new rally.

In the mentioned case, the price might surpass the $0.380 resistance. Any further gains could send the price towards the $0.4000 resistance. There is initial support on the downside near the $0.3320 level.

The next major support is near the $0.3250 level. Any further losses could push the price towards the $0.3050 level, below which the price may test $0.3000.

Ripple price

look at me ScheduleRipple price is now trading below the $0.3650 area and the 55 simple moving average (4-hours). In general, the price could continue declining if it breaks above the $0.330 and $0.325 support levels.

Technical Indicators

4 hours MACD – MACD for XRP/USD is gaining momentum in bearish territory.

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

Key Support Levels – $0.3320, $0.3250 and $0.3000.

Key resistance levels – $0.3500 and $0.3620.

Tags: ripple, XRP

#Ripple #Price #Analysis #Risk #Downside

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