Ripple Price (XRP) Facing Many Hurdles While Bitcoin Testing $12K

2019-8-8 07:08

Ripple price remained in a bearish zone below the $0.3150 and $0.3180 resistances against the US dollar. The price is consolidating above the $0.3065 and $0.3080 support levels. There is a major bearish trend line forming with resistance near $0.3160 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to struggle near the $0.3150, $0.3180 and $0.3200 resistance levels.

Ripple price is trading below many key resistances against the US Dollar and bitcoin. XRP price could start a fresh increase once there is a daily close above $0.3200.

Ripple Price Analysis

In the past few sessions, there was a steady decline in ripple price from the $0.3320 swing high against the US Dollar, while Ethereum and bitcoin remained stable. The XRP/USD pair broke many key supports near the $0.3220 and $0.3200 levels to enter a bearish zone. Moreover, there was a break below the $0.3150 support and the 100 hourly simple moving average. Finally, the price broke the $0.3100 level and traded to a new weekly low near $0.3065.

Recently, there was an upside correction above the $0.3125 level. Moreover, the price broke the 23.6% Fib retracement level of the downward move from the $0.3320 swing high to $0.3065 low. However, the upward move was capped by the $0.3150-0.3160 resistance area. Additionally, the price remained well below the 50% Fib retracement level of the downward move from the $0.3320 swing high to $0.3065 low.

As a result, the price declined again and retest the $0.3065 level. It seems like there is a strong resistance forming near the $0.3150 and $0.3160 levels. Furthermore, there is a major bearish trend line forming with resistance near $0.3160 on the hourly chart of the XRP/USD pair. Therefore, a successful break above $0.3150 and the bearish trend line might push the price further higher.

The main resistances are near $0.3200 and $0.3220, above which the price could start a fresh increase towards the $0.3320 level. On the downside, an immediate support is near the $0.3065 level. If the bulls fail to defend the $0.3065 support, the price could retest the $0.3000 support in the near term.

Looking at the chart, ripple price is facing an uphill task near the $0.3150, $0.3160 and $0.3200 levels. As long as the price is below the mentioned levels, there is a risk of more downsides below the $0.3065 support.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still below the 50 level, with a bearish angle.

Major Support Levels – $0.3080, $0.3065 and $0.3020.

Major Resistance Levels – $0.3150, $0.3160 and $0.3200.

The post Ripple Price (XRP) Facing Many Hurdles While Bitcoin Testing $12K appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.5283 (+0.61%)
Объем 24H $749.566m
Изменеия 24h: -1.96 %, 7d: 2.73 %
Cегодня L: $0.5238 - H: $0.5331
Капитализация $29.286b Rank 7
Цена в час новости $ 0.2971 (77.82%)

price xrp ripple bearish pair testing many

Источник: newsbtc.com

price xrp → Результатов: 126


Фото:

XRP Price Nears Major Converging Point: Analyst Predicts 3,600% Jump To $20

A crypto analyst has predicted the next price target for the XRP price, noting that the altcoin was nearing a key point that could potentially trigger a major bull rally for the cryptocurrency.   XRP Price Roadmap to $20 In an X (formerly Twitter) post on May 20, Crypto analyst, Javon Marks forecasted a strong bullish breakout for the XRP price in this market cycle.

2024-5-23 02:00


Ripple’s XRP Cryptocurrency Price Expected to Weaken Further After Corrective Move, But There’s a Catch

In an analysis posted on TradingView, trader Orson_Fawley shared insights into the potential future price movements of XRP, the cryptocurrency associated with the Ripple payment protocol. According to Fawley, XRP’s current downward trajectory is expected to continue, with the price potentially revisiting the low of $0.

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Leading Analyst Identifies Mega Ascending Triangle in Ripple (XRP) Price Chart; Forecasts Breakout Will Push Price to $1.4

Famous expert in technical analysis, @egragcrypto, has given some easy-to-understand insights about the cryptocurrency XRP, highlighting that its price might make a big move soon. In his latest look at XRP, he talks about the chances of big changes in price and points out a coming “liquidity storm,” which he calls “The Perfect Storm.

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XRP is currently undergoing a notable price correction, with a 24-hour decline of 2. 2% and a seven-day slump of 12. 1%, bringing its price to $0. 61 according to CoinGecko.   However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott Wave Theory to analyze its monthly price chart.

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