Ripple Price Analysis: High Risk Zone for XRP

6 months ago

Technical Indicators

Support Level – $0.2800

Resistance Level – $0.2950

  • Ripple price stayed underneath the $0.2900 and $0.2950 resistance levels against the US dollar.
  • There are two bearish pattern lines set up with resistance close $0.2900 on the hourly chart of XRP/USD.
  • Ripple price is in danger of more losses as long as it is trading underneath the$0.2900 and $0.2950 resistance levels.

Ripple price is confronting a lot of obstacles on the upside against the US Dollar and Bitcoin. XRP/USD is probably going to fall further underneath $0.2800 except if buyers drive it above $0.2950.

Ripple Price Analysis

Recently, Ripple price corrected from around $0.2776  against the US Dollar. The XRP/USD pair moved upwards in the $0.2800 and $0.2850 levels. Afterward, Ripple price failed to pick up strength over the $0.2950 resistance and stayed underneath the 100 hourly SMA. Again there was a sharp decline and ripple price moved beneath $0.2900.

Sellers pushed the price from the $0.2776 low to $0.2946 high. The present situation is bearish with a lot of obstacles on the upside close $0.2900 and $0.2950. Two bearish trendlines set up with resistance close $0.2900 on the hourly chart. An immediate break over these trendlines is needed for recovery above $0.3000. If not, there is a danger of the price falling underneath the $0.2820 support level.

XRPUSD Price Chart

Taking a look at the chart, Ripple price is probably going to break the $0.2800 and $0.2776 support levels. To begin a bounce back, the price must break the $0.2900 and $0.2950 resistance levels.

View Comments

    Leave a Reply

    Your email address will not be published. Required fields are marked*

    For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

    If you agree to these terms, please click here.

    This website uses cookies. When you are browsing Coinnounce.com, you agree with our cookie policy and terms of use.