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Ripple XRP Price May Drop Below $0.18 Despite Today’s Recovery

Stefan by Stefan
22/04/2020
in Ripple News
Reading Time: 2 mins read
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The Ripple XRP price is showing signs of an improvement today, but many analysts are still worried and are warning of a new potential drop. After a close below the $0.1900 level, the crypto news now show that XRP extended its decline and broke the key $0.1880 support zone to move further into a bearish zone

It was the bears that pushed the price of this coin below the $0.1850 level. The Ripple price also moved below the simple moving average and a new weekly low is formed right now near the $0.1783 area amid the recovery.

We could also notice a break above the $0.1800 and $0.1820 levels, as the Ripple XRP price managed to recover above the 23.6% Fib retracement level of the downward move from a high of $0.1950 to a low of $0.1780.

Right now in the XRP news today, we can see that Ripple is stable but the previous support areas near $0.1850 and $0.1865 are currently acting as hurdles for the bulls. In fact, the 50% Fib retracement level of the downward move from $0.1950 high to the $0.1780 swing low – which is also near the $0.1866 to stop the current wave.

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xrp price ripple

More importantly, there is a major bearish trend line that is forming with resistance near $0.1885 on the hourly chart of the XRP/USD. We can also see that the 100 hourly simple moving average is positioned near the $0.1900 zone in order to prevent gains. So, a successful close above the $0.1880 resistance and a follow up move above the $0.1900 level is needed for upside continuation in the near term.

But is there going to be a rejection for the Ripple XRP price?

Well, analysts think that XRP is likely to struggle near the $0.1880 and $0.1900 resistance levels. There are huge chances of a fresh bearish wave below the There are huge chances of a fresh bearish wave below the $0..
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1820 level. The first major support on the downside is near the $0.1780 level, below which there are high chances of a drop towards the $0.1700 level in the coming sessions.

The current technical indicators for the Ripple price are as following:

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  • Hourly MACD – The MACD for XRP/USD is currently going back into the bearish zone.
  • Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is hopelessly moving above the 50 level.
  • Major Support Levels – $0.1820, $0.1780 and $0.1700.
  • Major Resistance Levels – $0.1865, $0.1880 and $0.1900.

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

Tags: featuredhourly macd rippleRippleripple 2020ripple newsripple predictionripple price xrpripple updateripple updatesRipple XRPXRPxrp 2020xrp hourly rsixrp pricexrp/usd pair
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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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