I think holding Ripple will a clever idea for investors who want a huge pumps in a very short time, recently XRP is having more dumps but after a long period, i guess it will soon rise back and maybe higher, so XRP is a great altcoin for investing when we can easily see its developement in just a very short time.
yup probably a clever idea for all investors to make profits especially short term and on this current situation . But i don't believe it will stay stagnant for long time. Because it already made a pump despite of bearish along with ETH. So surely soon it will rise back again IMO which is once some coin show a progress again especially bitcoin because mostly altcoin are following after. 
Topic: Ripple (XRP) Price Holding Crucial Support & Likely To Bounce Back (Read 199 times)
May 06, 2019, 05:53:17 AM
Ripple is a risky investing in my opinion. Real circulating number is unknown and it can mint infinitive amount and most of the tokens held by the same company. And i choose not to trust this company regardless of what analysts say.
Yes, you are right, many think so. You can trade XRP, but very carefully!
May 06, 2019, 05:41:52 AM
Ripple (XRP) Price Remains Vulnerable Below $0.3050
https://www.newsbtc.com/wp-content/uploads/2019/05/Ripple-Price-3.png
Ripple price struggled to gain bullish momentum and declined below $0.3000 against the US dollar.
The price is currently trading below key supports and it could extend losses below $0.2940.
There is a short term bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains at a risk of more losses towards the $0.2900 and $0.2850 support levels.
Ripple price is currently in a declining mode against the US Dollar and bitcoin. XRP failed to hold gains and it could continue to move down towards the $0.2850 level.
Ripple Price Analysis
This past week, there were decent gains in ripple price above the $0.3050 level against the US Dollar. The XRP/USD pair traded above the $0.3100 level, but it failed to gain strength above the $0.3120 resistance. As a result, there was a fresh decline below the $0.3080 and $0.3050 support levels. The price recently broke the $0.3000 support, and the 76.4% Fib retracement level of the last wave from the $0.2949 high to $0.3125 high. It opened the doors for a break below the $0.2950 support level.
The price is currently trading with a bearish angle and below the $0.2960 and $0.2950 supports. If it extends losses, the next stop for the bears could be $0.2907 and $0.2900. The 1.236 Fib extension level of the last wave from the $0.2949 high to $0.3125 high is also near the $0.2907. Below $0.2900, there could be a sharp drop towards the key support near $0.2850. The 1.618 Fib extension level of the last wave from the $0.2949 high to $0.3125 high near $0.2840 may also act as a support.
On the upside, there is a strong resistance forming near $0.3000 and the 100 hourly simple moving average. There is also a short term bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair. The pair needs to clear the trend line, the $0.3000 barrier, and the 100 hourly SMA to start a decent upward move. The next key resistance above the $0.3000 level is near the $0.3050 level.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearly under pressure below the $0.3000 pivot level. Having said that, the $0.3050 level is also a strong resistance. Therefore, as long as the price is below $0.3000 and $0.3050, there is a risk of more losses in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD declined below the 40 level, with no major recovery sign.
Major Support Levels – $0.2920, $0.2900 and $0.2850
Major Resistance Levels – $0.3000, $0.3020 and $0.3040
https://www.newsbtc.com/wp-content/uploads/2019/05/Ripple-Price-3.png
Ripple price struggled to gain bullish momentum and declined below $0.3000 against the US dollar.
The price is currently trading below key supports and it could extend losses below $0.2940.
There is a short term bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains at a risk of more losses towards the $0.2900 and $0.2850 support levels.
Ripple price is currently in a declining mode against the US Dollar and bitcoin. XRP failed to hold gains and it could continue to move down towards the $0.2850 level.
Ripple Price Analysis
This past week, there were decent gains in ripple price above the $0.3050 level against the US Dollar. The XRP/USD pair traded above the $0.3100 level, but it failed to gain strength above the $0.3120 resistance. As a result, there was a fresh decline below the $0.3080 and $0.3050 support levels. The price recently broke the $0.3000 support, and the 76.4% Fib retracement level of the last wave from the $0.2949 high to $0.3125 high. It opened the doors for a break below the $0.2950 support level.
The price is currently trading with a bearish angle and below the $0.2960 and $0.2950 supports. If it extends losses, the next stop for the bears could be $0.2907 and $0.2900. The 1.236 Fib extension level of the last wave from the $0.2949 high to $0.3125 high is also near the $0.2907. Below $0.2900, there could be a sharp drop towards the key support near $0.2850. The 1.618 Fib extension level of the last wave from the $0.2949 high to $0.3125 high near $0.2840 may also act as a support.
On the upside, there is a strong resistance forming near $0.3000 and the 100 hourly simple moving average. There is also a short term bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair. The pair needs to clear the trend line, the $0.3000 barrier, and the 100 hourly SMA to start a decent upward move. The next key resistance above the $0.3000 level is near the $0.3050 level.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearly under pressure below the $0.3000 pivot level. Having said that, the $0.3050 level is also a strong resistance. Therefore, as long as the price is below $0.3000 and $0.3050, there is a risk of more losses in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD declined below the 40 level, with no major recovery sign.
Major Support Levels – $0.2920, $0.2900 and $0.2850
Major Resistance Levels – $0.3000, $0.3020 and $0.3040
May 02, 2019, 02:29:23 PM
I think holding Ripple will a clever idea for investors who want a huge pumps in a very short time, recently XRP is having more dumps but after a long period, i guess it will soon rise back and maybe higher, so XRP is a great altcoin for investing when we can easily see its developement in just a very short time.
XRP is indeed good, because it has a very high market capitalization, XRP is only left behind by BTC and ETH, it shows that XRP is indeed able to compete with the most famous coins in the whole world.
May 02, 2019, 02:07:46 PM
I think holding Ripple will a clever idea for investors who want a huge pumps in a very short time, recently XRP is having more dumps but after a long period, i guess it will soon rise back and maybe higher, so XRP is a great altcoin for investing when we can easily see its developement in just a very short time.
May 02, 2019, 12:02:39 PM
since bitcoin rise with a jump of more than 20 percent, indeed ripple hasn't followed bitcoin, i think when week end is like this when almost all altcoins experience ripple correction starting up ... hopefully up to 20 percent
Maybe because everyone is focus more on bitcoin, selling their altcoins including XRP to shift funds around the BTC market.
But XRP is holding as well, support is strong so I wouldn't be surprised to see the price climb again and move or a more bullish signals just like any other altcoins so far. But as far as hitting another all time high? I can't see it happening this year.
May 02, 2019, 11:50:15 AM
If they have an otc buyer who is willing to swallow up those ripple tokens then we will be ok. Otherwise it looks like a slump is on the cards right about now
May 02, 2019, 11:24:15 AM
I don't even like xrp because of fundamental reasons but on the ta point of view i have collected a bag, because it have a lot of potential to grow on btc pair.
I'm against ripple because of how centralized it is, but your right, doesn't mean you can't make a profit from it. Ripple will pump again, its just a matter of time. I won't be surprised if it has higher gains than bitcoin during this next bull run. Going back to 3 dollars is an easy 10x return.
May 02, 2019, 08:09:49 AM
So we are now almost 30 days into when you first posted this. I thought the same for XRP at several occassions to be honest, I bought into a few dips as it came down from 1 dollar and so you can imagine I am holding a bag of XRP!
But we still see such weakness. Your OP shows 0.36 and now it has lost about 20% of that. Do you really still feel it has been holding crucial support? A bounce back now is still only going to take us above 35 cents. Quite disappointing for me. What are your thoughts for $0.40 in medium term?
But we still see such weakness. Your OP shows 0.36 and now it has lost about 20% of that. Do you really still feel it has been holding crucial support? A bounce back now is still only going to take us above 35 cents. Quite disappointing for me. What are your thoughts for $0.40 in medium term?
May 02, 2019, 04:37:24 AM
XRP is not going to get any "pumps" anytime soon. it is already going through the dumping phase and nobody has any hopes for it to recover. the real investors with experience have already abandoned it until it actually starts pumping and that requires the Ripple foundation to start spending money to artificially pump it. and that can take another year.
specially with bitcoin rise most of the altcoins are going to continue seeing their value decline.
specially with bitcoin rise most of the altcoins are going to continue seeing their value decline.
On May 1, 2019, there was a defrost on the Ripple Exxrow account 1 billion XRP tokens. Currently, it is $ 308 million. Partially, the funds will most likely be sold. I expect a price drop.
May 02, 2019, 03:54:02 AM
Ripple (XRP) Price Holding Key Support: Fresh Upside In Play
https://www.newsbtc.com/wp-content/uploads/2019/05/Ripple-Price-1.png
Ripple price traded towards the $0.3080 level and recently corrected lower against the US dollar.
The price traded lower and broke the $0.3040 and $0.3020 support levels.
There is a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could dips a few points, but it is likely to bounce back as long as it is above $0.2950
Ripple price is trading with a positive bias above key supports against the US Dollar, but struggling vs bitcoin. XRP could bounce back as long as it is holding the $0.2950 support.
Ripple Price Analysis
Yesterday, we saw a nice upward move in ripple price above the $0.2950 and $0.3000 resistances against the US Dollar. The XRP/USD pair gained traction and broke the $0.3050 level as well and settled above the 100 hourly simple moving average. It traded close to the $0.3090 level and formed a new swing high near $0.3088. Later, it started a downside correction and traded below the $0.3050 support. There was a break below the 23.6% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high.
The price even cleared the $0.3000 support level and tested the main $0.2950 support level. Besides, the 50% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high prevented losses. The price is currently moving higher and trading well above $0.2950. There is also a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair. The pair seems to be well supported near $0.2960 and $0.2950. Besides, the 100 hourly SMA is also positioned near the $0.2950 support area.
On the upside, an initial resistance is near the $0.3000 level, above which the price may test $0.3020. However, a successful close above $0.3050 will most likely set the pace for more gains above the $0.3100 resistance level. The next key resistances are near $0.3120 and $0.3125.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearing trading above the key $0.2960 and $0.2950 support levels. If there is a downside break below the $0.2950 support and the 100 hourly SMA, the price could move into a bearish zone. An immediate support is near the $0.2910 level, below which the price may revisit the $0.2850 support level in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 level, but it is holding the 40 level.
Major Support Levels – $0.2960, $0.2950 and $0.2910.
Major Resistance Levels – $0.3020, $0.3050 and $0.3085.
https://www.newsbtc.com/wp-content/uploads/2019/05/Ripple-Price-1.png
Ripple price traded towards the $0.3080 level and recently corrected lower against the US dollar.
The price traded lower and broke the $0.3040 and $0.3020 support levels.
There is a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could dips a few points, but it is likely to bounce back as long as it is above $0.2950
Ripple price is trading with a positive bias above key supports against the US Dollar, but struggling vs bitcoin. XRP could bounce back as long as it is holding the $0.2950 support.
Ripple Price Analysis
Yesterday, we saw a nice upward move in ripple price above the $0.2950 and $0.3000 resistances against the US Dollar. The XRP/USD pair gained traction and broke the $0.3050 level as well and settled above the 100 hourly simple moving average. It traded close to the $0.3090 level and formed a new swing high near $0.3088. Later, it started a downside correction and traded below the $0.3050 support. There was a break below the 23.6% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high.
The price even cleared the $0.3000 support level and tested the main $0.2950 support level. Besides, the 50% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high prevented losses. The price is currently moving higher and trading well above $0.2950. There is also a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair. The pair seems to be well supported near $0.2960 and $0.2950. Besides, the 100 hourly SMA is also positioned near the $0.2950 support area.
On the upside, an initial resistance is near the $0.3000 level, above which the price may test $0.3020. However, a successful close above $0.3050 will most likely set the pace for more gains above the $0.3100 resistance level. The next key resistances are near $0.3120 and $0.3125.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearing trading above the key $0.2960 and $0.2950 support levels. If there is a downside break below the $0.2950 support and the 100 hourly SMA, the price could move into a bearish zone. An immediate support is near the $0.2910 level, below which the price may revisit the $0.2850 support level in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 level, but it is holding the 40 level.
Major Support Levels – $0.2960, $0.2950 and $0.2910.
Major Resistance Levels – $0.3020, $0.3050 and $0.3085.
April 29, 2019, 09:49:48 AM
XRP is not going to get any "pumps" anytime soon. it is already going through the dumping phase and nobody has any hopes for it to recover. the real investors with experience have already abandoned it until it actually starts pumping and that requires the Ripple foundation to start spending money to artificially pump it. and that can take another year.
specially with bitcoin rise most of the altcoins are going to continue seeing their value decline.
specially with bitcoin rise most of the altcoins are going to continue seeing their value decline.
April 29, 2019, 09:18:06 AM
I don't even like xrp because of fundamental reasons but on the ta point of view i have collected a bag, because it have a lot of potential to grow on btc pair.
April 29, 2019, 08:54:57 AM
The price of XRP 29 cents is really very low and I think that now in the fall is a good time to buy it. With the growth and return of the price to 32-34 cents, it will be possible to sell it and make a profit of 10%-15%. This is an optimistic, but the most likely scenario for the situation.
April 29, 2019, 04:43:05 AM
XRP does look hugely undervalued right now, especially relative to ETH and BTC. And history shows us that when XRP increases, it increases dramatically - by a large percentage in a very short time (followed by a slower drop-off). I think XRP is one of the coins where it's really difficult to predict price rises as they're so sudden.
April 29, 2019, 04:25:30 AM
Ripple is a risky investing in my opinion. Real circulating number is unknown and it can mint infinitive amount and most of the tokens held by the same company. And i choose not to trust this company regardless of what analysts say.
You have a good point and in fact there are many people who are holding the same opinion with XRP and the people behind this platform. I actually have some XRP and I bought them when it went sky-high $3. I know it was a very bad decision on my part...it is akin buying Bitcoin when it almost reached $20K. Right now...I am praying it can go as high as $.50 then I will dispose of them or maybe if Nexo can accept XRP then I will use them as collateral for a loan. XRP has been a divisive entity in the world of cryptocurrency and will continue to be playing that role for some unforeseeable time.
April 29, 2019, 02:43:15 AM
Ripple (XRP) Price Remains At Risk Of Further Decline
https://www.newsbtc.com/wp-content/uploads/2019/04/Ripple-Price-19.png
Ripple price recovered recently above the $0.2900 level and tested $0.2960 against the US dollar.
The price seems to be facing a strong resistance near the $0.2950 and $0.2960 resistance levels.
There is a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could revisit the $0.2810 level as long as it is trading below $0.2960 and $0.3000.
Ripple price is facing a lot of hurdles on the upside against the US Dollar and bitcoin. XRP remains at a risk of more declines unless it climbs back above the $0.3000 resistance area.
Ripple Price Analysis
After a short term correction, ripple price extended losses below the $0.2950 support against the US Dollar. The XRP/USD pair broke the $0.2920 support level and declined heavily below $0.2900. It traded close to the $0.2800 level and settled well below the 100 hourly simple moving average. A new monthly low was formed at $0.2796 and the price recently corrected higher. It broke the $0.2860 level and the 23.6% Fib retracement level of the last drop from the $0.3077 high to $0.2796 low.
The price even moved above the $0.2900 level, but it faced a strong resistance near the $0.2950 and $0.2960 resistance levels. More importantly, the price failed to clear the 100 hourly simple moving average, which is currently near $0.2938. Besides, the price failed near the 50% Fib retracement level of the last drop from the $0.3077 high to $0.2796 low. Finally, there is also a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair.
Therefore, ripple must break the $0.2950 resistance, the trend line, and the 100 hourly SMA. A successful close above the $0.2950-0.2960 zone could push the price towards the next resistance at $0.3000. Once there is a daily close above $0.3000, the price may start a decent recovery in the near term. On the downside, an initial support is near the $0.2860 level. If the bulls struggle to keep the price above $0.2860, the price could revisit the $0.2810 and $0.2800 support levels.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearly trading in a tight range below key resistances near $0.2960 and $0.3000. The bulls need to gain traction above $0.3000 to push the price back in a positive zone. If not, there is a risk of a fresh decline towards the $0.2810 or $0.2750 level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is likely to remain in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recently jumped above the 50 level.
Major Support Levels – $0.2860, $0.2810 and $0.2800.
Major Resistance Levels – $0.2950, $0.2960 and $0.3000.
https://www.newsbtc.com/wp-content/uploads/2019/04/Ripple-Price-19.png
Ripple price recovered recently above the $0.2900 level and tested $0.2960 against the US dollar.
The price seems to be facing a strong resistance near the $0.2950 and $0.2960 resistance levels.
There is a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could revisit the $0.2810 level as long as it is trading below $0.2960 and $0.3000.
Ripple price is facing a lot of hurdles on the upside against the US Dollar and bitcoin. XRP remains at a risk of more declines unless it climbs back above the $0.3000 resistance area.
Ripple Price Analysis
After a short term correction, ripple price extended losses below the $0.2950 support against the US Dollar. The XRP/USD pair broke the $0.2920 support level and declined heavily below $0.2900. It traded close to the $0.2800 level and settled well below the 100 hourly simple moving average. A new monthly low was formed at $0.2796 and the price recently corrected higher. It broke the $0.2860 level and the 23.6% Fib retracement level of the last drop from the $0.3077 high to $0.2796 low.
The price even moved above the $0.2900 level, but it faced a strong resistance near the $0.2950 and $0.2960 resistance levels. More importantly, the price failed to clear the 100 hourly simple moving average, which is currently near $0.2938. Besides, the price failed near the 50% Fib retracement level of the last drop from the $0.3077 high to $0.2796 low. Finally, there is also a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair.
Therefore, ripple must break the $0.2950 resistance, the trend line, and the 100 hourly SMA. A successful close above the $0.2950-0.2960 zone could push the price towards the next resistance at $0.3000. Once there is a daily close above $0.3000, the price may start a decent recovery in the near term. On the downside, an initial support is near the $0.2860 level. If the bulls struggle to keep the price above $0.2860, the price could revisit the $0.2810 and $0.2800 support levels.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is clearly trading in a tight range below key resistances near $0.2960 and $0.3000. The bulls need to gain traction above $0.3000 to push the price back in a positive zone. If not, there is a risk of a fresh decline towards the $0.2810 or $0.2750 level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is likely to remain in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recently jumped above the 50 level.
Major Support Levels – $0.2860, $0.2810 and $0.2800.
Major Resistance Levels – $0.2950, $0.2960 and $0.3000.
April 19, 2019, 05:06:24 PM
Ripple prices have basically flat-lined while everything else pumped. Used to be a good investment, but it seems that the bulls have switched to bitcoin cash and litecoin. We'll have to see how XRP does throughout the year
April 16, 2019, 06:08:53 AM
I do like XRP, but I don't think the price movements at the moment relate to the merits or otherwise of the coin. I think the general market sentiment is the main driver of price changes, and trends have been encouraging and bullish for a while now.
April 16, 2019, 02:55:52 AM
Ripple (XRP) Price Could Retest $0.3000 Before Fresh Upside
https://www.newsbtc.com/wp-content/uploads/2019/04/Ripple-Price-10.png
Ripple price failed near the $0.3370 level and declined below the $0.3250 support against the US dollar.
The price traded to a new weekly low at $0.3134 and remains at a risk of more losses in the short term.
There is a major bearish trend line formed with resistance near $0.3285 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could extend the current decline and it may even revisit the key $0.3000 support area.
Ripple price failed to gain bullish momentum against the US Dollar and bitcoin. XRP declined below $0.3220 and it may continue to decline towards $0.3000 before completing a correction.
Ripple Price Analysis
Yesterday, we saw a strong buying interest above $0.3200 and ripple price recovered above $0.3280 against the US Dollar. The XRP/USD pair even broke the $0.3350 level, but it failed to clear the $0.3370 level. It seems like the price struggled to settle above the $0.3350 level and the 100 hourly simple moving average. As a result, there was a fresh decline below $0.3280 and $0.3250. The price even broke the $0.3220 and $0.3200 support levels. A new weekly low was formed at $0.3134 and the price settled well below the 100 hourly simple moving average.
At the moment, the price is correcting higher above $0.3150. It broke the 23.6% Fib retracement level of the recent decline from the $0.3326 high to $0.3134 low. However, there are many resistances on the upside, starting with $0.3220 and $0.3230. The 50% Fib retracement level of the recent decline from the $0.3326 high to $0.3134 low is also near $0.3230. Above $0.3230, the 100 hourly SMA could prevent gains above $0.3250. There is also a major bearish trend line formed with resistance near $0.3285 on the hourly chart of the XRP/USD pair.
Therefore, the price is likely to struggle between $0.3250 and $0.3280 in the short term. If bulls fail to surpass the trend line and $0.3300, there are chances of a fresh decline. An initial support is near the recent low at $0.3130, below which the price may revisit the $0.3100 level. However, the main support is at $0.3000, where buyers are likely to appear.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is showing bearish signs below the $0.3250 and $0.3280 levels. A clear break and close above $0.3300 is needed for a change in trend to bullish in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD might move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recovered recently from 25 and it is currently at 40.
Major Support Levels – $0.3130, $0.3100 and $0.3000.
Major Resistance Levels – $0.3250, $0.3280 and $0.3300.
https://www.newsbtc.com/wp-content/uploads/2019/04/Ripple-Price-10.png
Ripple price failed near the $0.3370 level and declined below the $0.3250 support against the US dollar.
The price traded to a new weekly low at $0.3134 and remains at a risk of more losses in the short term.
There is a major bearish trend line formed with resistance near $0.3285 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could extend the current decline and it may even revisit the key $0.3000 support area.
Ripple price failed to gain bullish momentum against the US Dollar and bitcoin. XRP declined below $0.3220 and it may continue to decline towards $0.3000 before completing a correction.
Ripple Price Analysis
Yesterday, we saw a strong buying interest above $0.3200 and ripple price recovered above $0.3280 against the US Dollar. The XRP/USD pair even broke the $0.3350 level, but it failed to clear the $0.3370 level. It seems like the price struggled to settle above the $0.3350 level and the 100 hourly simple moving average. As a result, there was a fresh decline below $0.3280 and $0.3250. The price even broke the $0.3220 and $0.3200 support levels. A new weekly low was formed at $0.3134 and the price settled well below the 100 hourly simple moving average.
At the moment, the price is correcting higher above $0.3150. It broke the 23.6% Fib retracement level of the recent decline from the $0.3326 high to $0.3134 low. However, there are many resistances on the upside, starting with $0.3220 and $0.3230. The 50% Fib retracement level of the recent decline from the $0.3326 high to $0.3134 low is also near $0.3230. Above $0.3230, the 100 hourly SMA could prevent gains above $0.3250. There is also a major bearish trend line formed with resistance near $0.3285 on the hourly chart of the XRP/USD pair.
Therefore, the price is likely to struggle between $0.3250 and $0.3280 in the short term. If bulls fail to surpass the trend line and $0.3300, there are chances of a fresh decline. An initial support is near the recent low at $0.3130, below which the price may revisit the $0.3100 level. However, the main support is at $0.3000, where buyers are likely to appear.
Ripple Price Analysis XRP Chart
Looking at the chart, ripple price is showing bearish signs below the $0.3250 and $0.3280 levels. A clear break and close above $0.3300 is needed for a change in trend to bullish in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD might move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recovered recently from 25 and it is currently at 40.
Major Support Levels – $0.3130, $0.3100 and $0.3000.
Major Resistance Levels – $0.3250, $0.3280 and $0.3300.
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