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Key Barriers For Ripple’s XRP Lead To Reverse Towards $0.165

Stefan by Stefan
14/04/2020
in Ripple News
Reading Time: 2 mins read
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The key barriers for ripple could lead the reverse trend towards the $0.1650 and the Ripple XRP price is correcting higher from the $0.1810 against the US dollar while being up by more than 2% against the US dollar. Let’s find out more in the following Ripple XRP news.

There are still a few hurdles close to the $0.1900 level and the 100 hourly simple moving average, while there are key barriers, are forming a bearish trend line close to the resistance level at $0.1890 on the hourly charts of the XRP/USD pair. The pair could also struggle to remain bullish above the $0.1890 resistance level.

There were more losses yesterday for the Ripple XRP price below the $0.1850 level and the price traded to a monthly low of $0.1812 while correcting higher at the moment. The price is now trading within the 23.6% fib retracement level from the recent drop of $0.1965 high to the $0.1812 low. The Ripple XRP price is now facing very strong resistance at the $0.1890 resistance and 100 hourly simple moving average while the 50% fib retracement level of the recent drop of $0.1965 to $0.1812 low serves as a major hurdle for the bulls. There is a key connecting bearish trend line that is forming close to the $0.1890 on the hourly charts of the XRP/USD pair. The pair will likely struggle close to the $0.1890 and $0.1900 levels in the near term.

Moving into the positive zone, the bulls will have to gain pace above the $0.1920 level and the next key resistance level to the $0.1965 swing high after which the price could speed up towards the $0.2000 level. If Ripple fails to climb above the 100 hourly SMA or the $0.1900 resistance there are chances of anther fresh decline in the upcoming sessions. The initial support on the downside could reach the $0.1850 level and the main support will be close to the same level below which the bears are likely to shoot and test the $0.1650 level in the close term.

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The hourly MACD charts for XRP//USD is struggling to gain momentum in the bullish territory. The hourly RSI for the pair is dropping below the 50 levels while the major support levels are $0.1850 and $0.1810.

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Tags: key barriersreversal trendRippleripple priceRipple Price AnalysisRipple's XRPXRPxrp priceXRP price analysis
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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