Ripple Price Analysis: XRP/USD Sights Downside Break

2018-6-18 09:30

Key Highlights Ripple price declined from the $0.5600 swing high with bearish moves against the US dollar. There is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps decline further and it could break the $0.5200 support for more losses in the near term.

Ripple price is trading with a negative bias against the US Dollar and Bitcoin. XRP/USD could extend declines if there is a break below the $0.5200 support.

Ripple Price Support

There was a recovery wave initiated in Ripple price above the $0.5200 level against the US Dollar. The price moved above the $0.5400 and $0.5500 resistance levels. However, the upside move was capped by the $0.5650 zone where sellers appeared. A high was formed at $0.5681 before the price started a downside move. It declined and broke the $0.5500 support area. There was also a break below the 50% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high.

The decline was such that the price settled below the $0.5400 level and the 100 hourly simple moving average. At the moment, the price is testing the 76.4% Fib retracement level of the last leg from the $0.5030 low to $0.5681 high. The $0.5200 support area holds a lot of importance for the next move in the near term. Should there be a bearish break below $0.5200, the price could drop back towards the $0.5000 level in the near term. On the upside, there is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair.

Looking at the chart, the price remains at a risk of more losses below $0.5200 as long as it is below $0.5400.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is way below the 50 level.

Major Support Level – $0.5200

Major Resistance Level – $0.5400

The post Ripple Price Analysis: XRP/USD Sights Downside Break appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.4987 (-0.41%)
Объем 24H $1.023b
Изменеия 24h: -1.52 %, 7d: -4.52 %
Cегодня L: $0.4975 - H: $0.5046
Капитализация $27.607b Rank 7
Доступно / Всего 55.359b XRP / 100b XRP

break ripple usd price xrp pair bearish

Источник: newsbtc.com

break ripple → Результатов: 2


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Whales Are Active: Here’s Where They Are Sending Coins

On-chain data shows the XRP whales have been active during the past day. Here are the destinations their moves have been heading to. XRP Whales Have Moved Around Big Amounts In Last 24 Hours According to data from the cryptocurrency transaction tracker service Whale Alert, several large XRP transactions have been witnessed on the blockchain in the past day.

XRP Price Alert: Breakout Could Confirm Today

The XRP price has been in a downtrend since mid-November 2023. However, the XRP bulls seem to be taking control again if the following happens. An analysis of the 1-day chart of XRP/USD reveals that a potential price breakout is imminent.

XRP Price Set To Skyrocket 1,100% On This Signal: Crypto Analyst

In crypto trading, history often repeats itself, or at least rhymes. That’s why it can be crucial to spot historically important price signals and patterns. A recent technical analysis by Egrag Crypto has spotlighted such a pattern for XRP, indicating a possible massive price increase.