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

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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
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.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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