Ripple (XRP) Price Won’t Go Quietly, Risk of Bounce Grows

2019-10-11 07:08

Ripple price is correcting lower and is trading below the $0.2750 pivot level against the US dollar. The price is holding the $0.2700 support area, but it is facing a strong resistance. There is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could extend its decline to $0.2650 before it starts a fresh increase above $0.2750.

Ripple price is struggling to continue higher against the US Dollar and bitcoin. XRP price might decline towards $0.2650 or $0.2620 before it could climb higher.

Ripple Price Analysis

Yesterday, ripple price traded above the $0.2850 resistance against the US Dollar. XRP price traded to a new weekly high at $0.2871 and later started a downside correction. It broke the $0.2800 and $0.2750 support levels. Moreover, there was a close below the $0.2750 support area and the 100 hourly simple moving average. The bears gained pace and even pushed the price below the $0.2720 support.

The price tested the $0.2650 support area and it is currently correcting higher. It broke the $0.2700 level and the 23.6% Fib retracement level of the recent decline from the $0.2871 high to $0.2652 low. However, the previous support near the $0.2750 level is currently acting as a resistance. Additionally, the 100 hourly SMA is also preventing an upside break near $0.2750.

On the upside, the next key resistance is near the $0.2765 level. It coincides with the 50% Fib retracement level of the recent decline from the $0.2871 high to $0.2652 low. A successful break above the $0.2750 and $0.2765 resistance levels could start a fresh increase in ripple in the near term. The next key resistance is near the $0.2820 level, followed by the key $0.2850 barrier.

On the downside, the $0.2700 level is an immediate support. Moreover, there is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair. If there is a break below the trend line, the price could revisit the $0.2650 support area. Any further losses might push the price into a bearish zone towards $0.2600.

Looking at the chart, ripple price seems to be struggling to climb above the $0.2750 and $0.2765 resistance levels. If it continues to struggle, there could be another dip towards the $0.2650 level. However, as long as the price is above $0.2650, it could bounce back above $0.2750.

Technical Indicators

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 40 level.

Major Support Levels – $0.2700, $0.2650 and $0.2600.

Major Resistance Levels – $0.2750, $0.2765 and $0.2820.

The post Ripple (XRP) Price Won’t Go Quietly, Risk of Bounce Grows appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 0.525 (+0.10%)
Объем 24H $725.604m
Изменеия 24h: 0.63 %, 7d: 4.53 %
Cегодня L: $0.5225 - H: $0.5256
Капитализация $29.028b Rank 7
Цена в час новости $ 0.2687 (95.39%)

price xrp ripple support 2700 bounce won

Источник: newsbtc.com

price xrp → Результатов: 126


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