The XRP crucial uptrend remains intact as the asset is down by 8 percent from the $0.3250 resistance zone against the US dollar. XRP is now slowly approaching uptrend support of $0.2880 and $0.2850 levels, as we are reading more in the latest Ripple XRP news.
Ripple is dropping and it even broke the $0.3000 support zone against the US dollar. The price is approaching the crucial level of $0.2850 and there’s a huge bullish trend line with support close to the $0.2880 on 4-hour of the XRP/USD pair. the pair will bounce back as long as it is above the $0.2850 support level. After the strong rejection from the $0.3250 resistance, Ripple started a new decline and the price broke the $0.3120 support level just to move into the short-term bearish zone.
The XRP crucial uptrend remains intact as the price gained pace to the $0.3055 support level. The bears pushed the price below the $0.2920 support level and the 100 simple moving average. The price is now reaching crucial support of $0.2880. A new low was forming close to the $0.2872 and the price is now trading with a bearish zone. The initial resistance on the upside is close to the $0.2950 level followed by the 23.6% Fib retracement level of the decline from $0.3274 to $0.2872.
The 100 simple moving average is set at $0.3000 to stop the upward movements. The first major resistance is close to the $0.3055 and the $0.3065 levels. It also neared the 50% Fib retracement level from the recent decline of $0.3274 high to $0.2872 low. The 100 simple moving average is not set at $0.3000 to stop the upward move while the first major resistance is close to the $0.3055 level. It is close to the 50% Fib retracement level from the decline of $0.3274.
On the downside, there’s strong support waiting close to the $0.2850 and $0.2800 so if Ripple fails to stay above this support zone, it could boost further towards $0.2500 support in the near-term. If Ripple stays above the $0.2880 and the $0.2850 support levels, it could form a new base for another increase and it has to recover above $0.3000. The main issue is now near the $0.3055 level above which the bulls will want to try the $0.3250 resistance zone.
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