Ripple (XRP) Drops 5% On The Day And It’s Vulnerable For Bigger Decline

2020-2-11 07:28

Ripple is declining from the $0.2900 resistance area against the US Dollar. XRP price broke $0.2700 and it could continue to correct lower towards the $0.2600 support. Ripple price started a downside correction after it failed to test $0.3000 against the US dollar. There was a break below the $0.2800 and $0.2700 levels. There is a key declining channel forming with resistance near $0.2735 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could continue to move down towards $0.2600 or $0.2540 in the near term. Ripple Price Remains At Risk After a decent upward move, ripple faced a strong resistance near the $0.2880-$0.2900 area. Moreover, XRP price failed to test the $0.3000 resistance area and formed a short term top near the $0.2891 level. As a result, there was a downside correction below the $0.2800 level. Besides, the price traded below the 50% Fib retracement level of the last leg from the $0.2635 low to $0.2891 high. The price is now trading below $0.2750 and the 100 hourly simple moving average. An immediate support is seen near the $0.2695 level. It coincides with the 76.4% Fib retracement level of the last leg from the $0.2635 low to $0.2891 high. More importantly, there is a key declining channel forming with resistance near $0.2735 on the hourly chart of the XRP/USD pair. Therefore, there is a risk of more losses in ripple below the $0.2695 level. Ripple Price The next support is seen near the last swing low of $0.2635. If the price fails to stay above the $0.2635, it could continue to move down towards the $0.2600 support area. Any further losses may perhaps lead the price towards the $0.2575 support area. It coincides with the 1.236 Fib extension level of the last leg from the $0.2635 low to $0.2891 high. Fresh Increase? On the upside, there are a few key hurdles forming near the $0.2735 and $0.2740 levels for ripple. The first key resistance is seen near the $0.2800 area and the 100 hourly simple moving average. To move into a positive zone, the bulls need to push the price above $0.2800. The main hurdle is still near the $0.2880-$0.2900 area, above which ripple price might rise towards the $0.3000 resistance. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently declining and it is below the 40 level. Major Support Levels – $0.2695, $0.2635 and $0.2600. Major Resistance Levels – $0.2740, $0.2800 and $0.2890. The post appeared first on NewsBTC. origin »

Ripple (XRP) на Currencies.ru

$ 2.0629 (+0.03%)
Объем 24H $3.272b
Изменеия 24h: -4.35 %, 7d: -7.06 %
Cегодня L: $2.0583 - H: $2.1107
Капитализация $124.456b Rank 4
Цена в час новости $ 0.2723 (657.58%)

ripple xrp price correct lower towards continue

ripple xrp → Результатов: 126


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