Ripple (XRP) Breaks Key Support: Indicators Suggest Fresh Test of $0.22 | NewsBTC


Ripple failed to clear the $0.2450 resistance and declined sharply against the US Dollar. XRP price is now trading below the $0.2380 support and remains at a risk of a drop to $0.2200.

  • Ripple is down more than 4% and it failed to clear the main $0.2450 resistance against the US dollar.
  • The price is now trading well below $0.2380 and the 100 simple moving average (4-hours).
  • Yesterday’s followed important bearish trend line is active with resistance near $0.2445 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to accelerate lower towards $0.2200 if it breaks the $0.2280 support.

Ripple Price Resumes Decline

In the past two sessions, there was an increase in selling in bitcoin, Ethereum, and ripple. XRP price failed to clear the main $0.2450 resistance area (as discussed yesterday), and started a fresh decline.

How To Get Free Crypto  

There was a sharp decline below the $0.2400 level and the 100 simple moving average (4-hours). There was also a break below the 50% Fib retracement level of the key upward move from the $0.2195 swing low to $0.2550 swing high.

14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now!

The decline was such that the bears pushed the price below the key $0.2380 support. More importantly, yesterday’s followed important bearish trend line is active with resistance near $0.2445 on the 4-hours chart of the XRP/USD pair.

Ripple (XRP) price dives below $0.2380. Source: TradingView.com

The pair is now testing the $0.2300 zone, plus the 61.8% Fib retracement level of the key upward move from the $0.2195 swing low to $0.2550 swing high. If there is a downside break below the $0.2300 and $0.2280 support levels, it could open the doors for a sharp dip towards the next major support near the $0.2200 level. Any further losses could lead ripple towards the $0.2150 level.

Upsides Capped in XRP?

If ripple finds support near $0.2300 or $0.2280, there are chances of a short-term upside correction. On the upside, the price is likely to face a strong resistance near $0.2400 and the 100 simple moving average (4-hours).

Coinbase Banner  

The main resistance is still near the trend line and $0.2450, above which the bulls are likely to gain strength in the coming days.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level, with bearish signs.

Major Support Levels – $0.2300, $0.2280 and $0.2200.

Major Resistance Levels – $0.2380, $0.2400 and $0.2450.

Go to Source
Author: Aayush Jindal


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.