Ripple’s XRP signals more downsides and trades well below the $0.1920 against the US Dollar. XRP price remains at high risk of more losses unless it gets enough strength to push above this level as we are reading further in the following Ripple price news.
The price is now trading below the $0.1900 support and the 100 hourly simple moving average. There’s a declining channel forming close $0.1890 on the hourly chart of the XRP/US dollar as it can continue to move down close to the $0.1850 support levels. Ripple’s XRP signals a fresh decrease after failing to test the $0.2000 resistance as it traded as high as $0.1986 before it declined below the $0.1950 support zone. The bears gained more traction and pushed the price below the $0.1900 support and the 100 hourly simple moving average as before the decline there was a key break below the major bullish trend line with a support of $0.1910.
It traded as low as $0.1868 which seems there are chances of more losses ahead. An initial resistance is close to the $0.1890 level of the 23% fib retracement level of the recent slide from the $0.1986 high to the $0.1868 low. There’s also a declining channel forming with resistance close to the $0.1890 chart which seems there are chances of more losses. The first major key resistance is close to the $0.1900 zone and the 100 hourly simple moving average while the next major resistance is close to the $0.1925 level of the 50% fib retracement level of the slide of $0.1986 high to $0.1868 low.
The hourly MACD for the XRP/USD pair is moving right within the bearish zone while the hourly Relative strength index (RSI) for the XRP/USD pair is correcting higher from the 30 levels. The major support levels for the pair lay at $0.1850, $0.1820, and $0.1800 while the major resistance levels are set at $0.1900, $0.1925, and $0.1950.
Ripple could escape another key resistance is close to the $0.1980 level. The main hurdle for another upward movement is close to the $0.2000 level. Another daily close above the $0.2000 level could open the doors for a steady rise towards the $0.2100 and $0.2120 levels and on the downside, the $0.1900 support zone is very important. If Ripple fails to stay above the trend line and the $0.1900 which could start a strong decline.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post