Ripple Price Analysis: XRP/USD Bears Target $0.2800 or Lower

2018-12-6 06:12

Ripple price is under pressure and declined below $0.3450 recently against the US Dollar. XRP/USD could continue to move down below $0.3000 or $0.2800.

Key Talking Points

Ripple price recently broke the $0.3700 support to enter a bearish zone against the US Dollar. XRP/USD is following a major contracting triangle (declining) with resistance at $.3420 on the 2-hours chart (Data feed via Bitstamp). XRP price may continue to move down towards the $0.3000 or $0.2800 support levels. Ripple Price Forecast

After a decent recovery above $0.3800, ripple price faced a solid resistance near $0.3995-0.4000 against the US Dollar. The XRP/USD pair started a significant downward move and traded below the $0.3700 and $0.3450 support levels.

Looking at the chart, the price topped near the $0.3984 level and declined steadily. It broke a key connecting bullish trend line, with support at $0.3700 to enter a bearish zone. Sellers gained pace and pushed the price below $0.3500 and the 100 simple moving average (2-hours).

Besides, the price broke the 61.8% Fib retracement level of the last wave from the $0.3125 low to $0.3984 high. The current price action is super bearish and there could be more losses as long as the price is below $0.3620.

At the outset, the price is following a major contracting triangle (declining) with resistance at $.3420 on the 2-hours chart. Sellers are currently pushing the price below the 76.4% Fib retracement level of the last wave from the $0.3125 low to $0.3984 high.

Therefore, the price could soon break the triangle support at $0.3200 and declined towards the $0.3125 low. In the mentioned case, the price will most likely break the $0.3125 low to test the $0.3000 support area.

More importantly, if bitcoin, Ethereum and litecoin continues to slide, ripple price may even break the $0.3000 support level. The next major stop for XRP buyers could be near the $0.2800 level. On the upside, the main resistances are positioned near the $0.3450 and $0.3620 levels.

The market data is provided by TradingView.

The post Ripple Price Analysis: XRP/USD Bears Target $0.2800 or Lower appeared first on Ethereum World News.

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Ripple (XRP) на Currencies.ru

$ 0.5072 (-0.37%)
Объем 24H $979.248m
Изменеия 24h: 0.77 %, 7d: -8.24 %
Cегодня L: $0.4891 - H: $0.5115
Капитализация $28.079b Rank 7
Цена в час новости $ 0.3402 (49.09%)

xrp usd price ripple 2800 against below

Источник: ethereumworldnews.com

xrp usd → Результатов: 126


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