Ripple Price Analysis: XRP Primed for More Declines

2019-2-8 08:00

Ripple price corrected higher, but it failed to move above $0.2900 and $0.2920 against the US dollar. Yesterday’s highlighted key bearish trend line is intact with resistance near $0.2890 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must break the $0.2900 and $0.2920 resistance levels to start a short term upward move.

Ripple price is trading in a bearish zone with a negative angle against the US Dollar and Bitcoin. XRP/USD could continue to move down and it may even break the $0.2850 support level.

Ripple Price Analysis

After trading as low as $0.2850, ripple started a minor upside correction against the US Dollar. The XRP/USD pair traded above the $0.2860 and $0.2880 resistance levels. It also moved above the 23.6% Fib retracement level of the recent decline from the $0.2987 high to $0.2849 low. However, there was a strong rejection near the $0.2910 and $0.2920 resistance levels. The price even failed to test the $0.2930 pivot level and later traded in a tight range. More importantly, it slowly traded lower and settled below $0.2900 plus the 100 hourly simple moving average.

On the upside, there are many hurdles near the $0.2900 and $0.2920 levels. Besides, yesterday’s highlighted key bearish trend line is intact with resistance near $0.2890 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent decline from the $0.2987 high to $0.2849 low is also near $0.2918. Therefore, the price is likely to struggle near the $0.2900 and $0.2920 resistance levels. On the downside, an initial support is at $0.2850, below which there is a risk of a drop to $0.2800.

Looking at the chart, ripple price is clearly placed in a bearish zone below $0.2920. As long as the price is below the $0.2930 pivot, sellers remain in action. They could soon push the price below $0.2850 and $0.2820 in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is back below the 50 and 45 levels, with bearish signs.

Major Support Level – $0.2850

Major Resistance Level – $0.2920

The post Ripple Price Analysis: XRP Primed for More Declines appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5209 (+0.31%)
Объем 24H $1.173b
Изменеия 24h: 1.39 %, 7d: 0.84 %
Cегодня L: $0.5138 - H: $0.5209
Капитализация $28.839b Rank 7
Цена в час новости $ 0.2904 (79.37%)

xrp price ripple 2920 resistance pair 2900

Источник: newsbtc.com

xrp price → Результатов: 126


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Tether CEO slams Ripple chief’s USDT remarks: Here’s what he said

Tether CEO Paolo Ardoino has slammed Ripple CEO Brad Garlinghouse’s remarks that the US government is “going after” Tether (USDT) as mere “FUD.” The Tether CEO also hit back at Garlinghouse as a CEO at the helm of a company currently under investigation by the US Securities and Exchange Commission (SEC). UDST is the world’s […]

SEC files final response in XRP lawsuit, rejects Ripple’s claims

The United States States Securities and Exchange Commission (SEC)  has filed its final response to its ongoing lawsuit against Ripple. According to the filing, the commission has refuted Ripple’s claims that it acted without recklessness in handling the XRP cryptocurrency.…

SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’

The US Securities and Exchange Commission (SEC) appears to be targeting Ripple’s proposed stablecoin in its latest court filing against the crypto company. In its May 7 redacted remedies reply brief, the regulator described the proposed stablecoin as an “unregistered crypto asset” and further evidence that the company will continue to engage in unregulated activities […] The post SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’ appeared first on CryptoSlate.

Bitcoin ETFs in the US see $15.7 million in outflows

Quick Take US Bitcoin ETFs saw an outflow of $15. 7 million on May 7, marking the first day of outflows since May 2. According to data from Farside, Grayscale’s GBTC was responsible for the negative trend, as it recorded $28.