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XRP Crucial Uptrend Remains Intact While The Price Keeps On Falling

Stefan by Stefan
19/08/2020
in Ripple News
Reading Time: 2 mins read
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xrp crucial uptrend
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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.

xrp price
Ripple (XRP) price trades below $0.3000. Source TradingView.com

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.

ripple daily analysis
XRP 24-Hour Chart (Source: Coingecko)

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.

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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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Tags: featuredprice keeps fallingRippleripple priceRipple Price Analysisxrp crucial uptrendxrp 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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