New XRP Crash Looks Real As It Failed To Clear $0.6150: Analysis

A new XRP Crash looks real as the coin failed to clear the $0.6150 resistance level and broke the major support of $0.5740. XRP’s price could continue lower towards $0.5100 or even at $0.4500 so let’s read more in the latest Ripple price news.

The price is now trading well below the $0.5740 zone and the 100 simple moving average with a break below the highlighted crucial contracting triangle with more support at $0.5880 on the 4-hour charts of the pair. The pair could retest the $0.5740 before it surpasses the drop towards $0.5000. After a few failed attempts near the $0.6200 level, Ripple’s XRP price started a stronger decline while other coins such as ETH, BCH, ADA, and BTC dropped heavily.

XRP followed a similar pattern and broke a couple of important supports close to the $0.5880 and the $0.5740 zone. There was a break below the 50% fib retracement level from the key upward movement at the $0.4548 swing low to the $0.6919 high. What’s even more important is the break below yesterday’s highlighted crucial contracting triangle with the support of $0.5880 on the 4-hour charts of the pair. The price is now trading well below the zones and the 100 simple moving average and it tested the $0.5450 support level.
It is close to the 61.8% fib retracement level from the key upwards movement at $0.4548 swing low to the $0.6919 high.

If there’s a clear break below the $0.5450 support level, the price will continue moving down and a new XRP crash could occur. The next major support is close to the $0.500 level below which the bears will aim for a test of $0.4500 support. If ripple starts increasing above $0.5600 it could face major hurdles as the first major resistance was near the $0.5740 level. The next major resistance was close to the $0.600 level and the 100 simple moving average with the price below the $0.5740 resistance, remaining at risks of more losses in the near-term.

The 4-hour MACD for the pair is gaining momentum in the bearish zone. The 4-hour RSI is now below the 40 levels with the major support levels set at the $0.5450 level with the $0.5200 and $0.5000 while the major resistance levels at $0.5740 and $0.5880.