HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ripple (XRP) Turns ‘Sell’ Below This Key Support (Now Resistance)

Altcoins 2020/04/16 07:48 by Aayush Jindal
Ripple is down close to 5% and it broke the key $0.1810 support zone against the US Dollar. XRP price is currently recovering, but the same support is likely to protect gains. Ripple price is back in a bearish zone below the $0.1810 support against the US dollar. A new weekly low is formed near $0.1738 and the price is currently correcting higher. There is a key bearish trend line forming with resistance near $0.1815 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct further, but it is likely to face hurdles near $0.1810 and $0.1820. Ripple Price Support Turned Resistance Yesterday, we discussed the importance of the $0.1800-$0.1810 support area for ripple. XRP price failed to continue higher above the $0.1900 resistance and recently declined sharply below the $0.1800-$0.1810 support. The bears took control, resulting in a close below $0.1800 and the 100 hourly simple moving average. The price traded below the $0.1750 level and formed a new weekly low at $0.1738. Ripple is currently correcting higher and trading above the $0.1750 level. It is testing the 50% Fib retracement level of the recent drop from the $0.1857 high to $0.1738 low. It seems like the $0.1800 area is currently acting as a hurdle for the bulls. The main resistance is near the $0.1810 and $0.1820 levels (the recent breakdown zone). The 61.8% Fib retracement level of the recent drop from the $0.1857 high to $0.1738 low is also near $0.1810. More importantly, there is a key bearish trend line forming with resistance near $0.1815 on the hourly chart of the XRP/USD pair. If the pair corrects further higher, it is likely to face a strong resistance near the $0.1810 and $0.1820 levels in the near term. Ripple Price A successful close above the $0.1810 and $0.1820 levels might open the doors for a fresh increase towards the $0.1900 and $0.1920 resistance levels. More Downsides? If ripple struggles to recover above the $0.1810 and $0.1820 resistance levels, it is likely to resume its decline. An initial support is near the $0.1740 level. A clear break below the $0.1740 support level might open the doors for more downsides towards the $0.1700 and $0.1680 levels in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is likely to move into the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now correcting higher towards the 40 level. Major Support Levels – $0.1740, $0.1700 and $0.1680. Major Resistance Levels – $0.1800, $0.1810 and $0.1820. Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.

0 Like(s)



You should also read...

Altcoins 20/11/19 05:28 by Aayush Jindal
Ripple (XRP) Price Trading Near Crucial Juncture, Can Bulls Make It?
Ripple price is currently correcting higher and is trading above $0.2520 against the US dollar. The price seems to be approaching a major resistance area near the $0.2600 level. This week’s crucial...
Read More
Altcoins 19/02/20 05:28 by Aayush Jindal
Ripple (XRP) Recovery Facing Key Hurdles: Can Bulls Outsmart Bears?
Ripple started an upside above the $0.2850 resistance area against the US Dollar. However, XRP price is still facing a couple of key hurdles near $0.3000 and $0.3080. Ripple price is currently correc...
Read More
Altcoins 11/05/20 08:08 by Aayush Jindal
Ripple (XRP) Turned ‘Sell’ on Rallies: $0.18 and $0.17 Are Likely Targets
Ripple declined heavily from well above the $0.2200 resistance against the US Dollar. XRP is currently recovering, but upsides are likely to remain capped near $0.2080 and $0.2100. Ripple is trading ...
Read More
Altcoins 29/06/20 07:28 by Aayush Jindal
This Confluence Of Bearish Factors Shows Ripple (XRP) Could Dive Again
Ripple started an upside correction after trading as low as $0.1690 against the US Dollar. XRP price is currently facing a strong resistance at $0.1800 and it could resume its decline. Ripple correct...
Read More
Altcoins 26/08/20 08:48 by Aayush Jindal
Ripple (XRP) is Plunging, But It’s Too Early to Say Bulls Have Given Up
Ripple is declining and it broke the $0.2800 support zone against the US Dollar. XRP price is currently correcting higher, but upsides are likely to remain capped near $0.2810. Ripple is slowly movin...
Read More