Ripple Price Analysis: XRP about to crash?

5 months ago

Technical Indicators

Support Level – $0.2950

Resistance Level – $0.3030

  • Ripple price is under pressure after breaking the support around $0.2980.
  • A bearish pattern line is formed with the new resistance framed around $0.2980 on the hourly chart.
  • Ripple can crash if there is a break underneath the $0.2950 support in short term.

Ripple price declined further and broke support level against the US Dollar and Bitcoin. XRP/USD is at present in danger of a falling beneath the $0.2950 and $0.2925 supports.

Ripple Price Analysis

Ripple price moved downwards response in ripple price beneath the $0.3110 support level against the US Dollar. The XRP/USD pair declined underneath the $0.3050 and $0.3000 support levels to enter a bearish zone. Afterward, the price even broke the $0.2980 support and the 100 hourly SMA. The support around $0.2950 proved strong and moved the price upwards. It recovered over the $0.2980 and the $0.3000 levels.

XRPUSD chart

The price was not able to pick up force over the $0.3000 and $0.3020 levels which are strong. The price is beneath the $0.3025 resistance and the 100 hourly SMA. There is a bearish pattern line formed with resistance around $0.2980 on the hourly chart. To rise, Ripple price must break the pattern line, $0.3000 resistance, and the 100 hourly SMA. The major resistances are close $0.3025 and $0.3045.

Taking a look at the chart, XRP is right now in a critical zone with support around $0.2950. Ripple might fall underneath the $0.2920 and $0.2900 levels in short term.

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