Ripple Price Analysis: XRP to $0.25?

5 months ago

Technical Indicators

Significant Support Level – $0.2850

Significant Resistance Level – $0.2940

  • Ripple price fell down further and broke the major support levels around $0.2940 and $0.2900.
  • There is a bearish pattern line formed with resistance around $0.2960 on the hourly chart.
  • XRP is trading a bearish zone and it is at risk of falling towards $0.2820 or $0.2800.

Ripple price fell down sharply against the US Dollar as well as Bitcoin. XRP/USD settled beneath $0.2940 and a lot of sellers are now placed on the upside.

Ripple Price Analysis

Ripple price fell further and breaking the numerous support levels around $0.2900. Selling pressure easily broke the $0.2940 support and the 100 hourly SMA. Ripple price declined underneath the $0.2900 support level. It fell down to a monthly low of $0.2867 and it appears that sellers are in full pace. Right now, XRP is trying to correct losses above $0.2870 but there are no bullish signs.

XRPUSD Price Chart

The resistance levels are close to the $0.2920 and $0.2940. The previous support level was around $0.2940, which is probably going to stop the price from moving upwards. There is a key bearish pattern line formed with resistance around $0.2960 on the hourly chart. On the upside,  Ripple price is going to confront sellers around $0.2920, $0.2930 and $0.2940.

Taking a look at the chart, XRP  moved into a bearish zone beneath $0.2960. If the selling pressure remains strong, there is a risk of a decline under the $0.2800 support level.

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    Your email address will not be published.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, you agree with our cookie policy and terms of use.