XRP Price Analysis: Ripple going to crash to $0.3?

4 months ago

Technical Indicators:

Support Level: $0.3080

Resistance Level: $0.3150

Key Points:

  • XRP price was not able to break the major resistance at $0.3200 and thus started to fall downwards.
  • Due to the downward pressure, XRP price broke the $0.3140 support level and moved below $0.3100.
  • Ripple is under massive selling pressure and could soon test the next major support at $0.3080.

XRP price is moving downwards against both USD as well as bitcoin. If Ripple breaks beneath the 100 hourly SMA and $0.3080 support, it might crash towards $0.3000.

XRP Price Analysis

Recently, XRP price started a bullish momentum following bitcoin and other major altcoins. However, Ripple faced a lot of selling pressure at around $0.3200 resistance level. After reaching up to $0.3196, Ripple started a downfall breaking the major support at $0.3150. Once this support was broken, the overall momentum turned bearish. Massive selling pressure even broke the $0.3120 support.

The current major support is around $0.3080 where the 100 hourly SMA also lies. A lot of buyers are placed at this point. However, if XRP price breaks beneath this range, it is probably going to crash hard towards $0.3000. A new major resistance is formed around $0.3150 and XRP price needs to break this resistance in order to start a fresh upside correction. If this resistance is broken, XRP will again test the resistance around $0.3200.

XRPUSD Price Chart

The chart shows that Ripple price is currently falling towards a very critical support level at $0.3080. If the support is broken, it could be devastating for the price of XRP. Buyers need to strengthenĀ and push the price upwards to break the $0.3150 resistance level in order to start a fresh incline pattern.

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