XRP Price Prediction: Bears Reject $0.40, Ripple Turns Vulnerable To More Losses

2023-2-28 08:58

Ripple is moving lower from the $0.405 resistance zone against the US Dollar. XRP price is now at a risk of downside break below the $0.37 support.

Ripple is currently moving lower from the $0.4050 resistance zone against the US dollar. The price is now trading above $0.385 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3780 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could recover if there is a clear move above the $0.385 and $0.388 resistance levels. Ripple Price Dips Further

This past week, ripple’s XRP started a fresh decline from the $0.4050 resistance zone against the US Dollar. The price declined below the $0.395 and $0.392 levels to move into a bearish zone.

There was a drop below the $0.380 level and the 100 simple moving average (4-hours). A low is formed near $0.3694 and the price is now consolidating losses. There is a key bearish trend line forming with resistance near $0.3780 on the 4-hours chart of the XRP/USD pair.

XRP price is now trading above $0.385 and the 100 simple moving average (4-hours). On the upside, an initial resistance is near the $0.378 zone and the trend line. The trend line is near the 23.6% Fib retracement level of the downward move from the $0.4086 swing high to $0.3694 low.

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.3880 level or the 50% Fib retracement level of the downward move from the $0.4086 swing high to $0.3694 low. A successful break above the $0.388 resistance might send the price towards the $0.400 resistance. Any more gains might send the price towards the $0.425 level.

More Losses in XRP?

If ripple fails to clear the $0.388 resistance zone, it could continue to move down. An initial support on the downside is near the $0.370 level.

The next major support is near $0.364. If there is a downside break and close below the $0.364 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.332 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.370, $0.364 and $0.332.

Major Resistance Levels – $0.384, $0.388 and $0.400.

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Ripple (XRP) на Currencies.ru

$ 0.5174 (-0.22%)
Объем 24H $631.058m
Изменеия 24h: -0.54 %, 7d: -2.49 %
Cегодня L: $0.5137 - H: $0.5201
Капитализация $28.688b Rank 7
Цена в час новости $ 0.3769 (37.28%)

ripple xrp lower dollar price resistance against

Источник: newsbtc.com

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