Ripple Price Analysis: XRP/USD Could Break $0.2650 Support
Key Highlights
Ripple price chastened higher recently, but it failed to break the $0.2900 fight against the US dollar. There is a key bearish trend line in place with defiance at $0.2850 on the hourly map of the XRP/ USD duo( data source connection from Kraken ). The duet is currently moving lower and it remains at increased risk of more loss below the $0.2650 supporter.
Ripple price is worsening once again against the US Dollar and Bitcoin. XRP/ USD could even break the $0.2650 support to test the $0.2500 level in the very near term.
Ripple Price Resistance
Recently, Ripple price retested the $0.2650 -8 0 substantiate province against the US Dollar. The XRP/ USD duo felt a strong buying fascinate and later started an uphill move above the $0.2750 stage. The toll even broke the $0.2800 fighting and the 50% fib retracement elevation of the last lessen from the $0.3044 high to $0.2685 fluctuating low.
However, the upside move was covered by the $0.2900 resistance and the 100 hourly simple moving median. Additionally, the price is inadequate to clear the 61.8% fib retracement rank of the last drop-off from the $0.3044 high-pitched to $0.2685 swaying low-spirited. More importantly, there is a key bearish trend line in place with fighting at $0.2850 on the hourly graph of the XRP/ USD pair. The duo was clearly repudiated and at present there moving lower towards the last change low-toned at $0.2680. It seems like vendors could make an attempt to clear the $0.2680 and $0.2650 ranks. If they supplant, the price might plunge back towards the $0.2500 substantiate zone.
Looking at the chart, ripple cost is trading in a bearish region below the $0.2900 and $0.3000 fight elevations. If purchasers need to gain friction, they have to push the toll past $0.3000.
Looking at the technical shows 😛 TAGEND
Hourly MACD- The MACD for XRP/ USD is currently in the bearish zone.
Hourly RSI( Relative Strength Index)- The RSI for XRP/ USD is now well below the 50 level.
Major Support Level- $0.2680
Major Resistance Level- $0.2900
The post Ripple Price Analysis: XRP/ USD Could Break $0.2650 Support emerged first on NewsBTC.
