Monday , November 28 2022
Home / Altcoins / Ripple Price Analysis: Risk of More Downsides Below $0.325

Ripple Price Analysis: Risk of More Downsides Below $0.325

Summary:
Ripple price started a fresh decline from the %excerpt%.3900 resistance against the US dollar. The price is now trading below %excerpt%.355 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near %excerpt%.3780 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move down if it breaks the %excerpt%.330 and %excerpt%.325 support levels. Ripple price is declining below %excerpt%.355 against the US Dollar, similar to bitcoin. XRP price must stay above %excerpt%.3250 to avoid more losses in the near term. Ripple Price Analysis After forming a base near the %excerpt%.3650 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the %excerpt%.3780 resistance zone. The price even broke the

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Nick Marinoff writes Nearly 100 Customers Sue Coinbase Over Its Wallet App

Nick Marinoff writes Lionel Messi to Work with Crypto Platform Bit Get

Nick Marinoff writes Crypto Lending Platform Freeway Halts Customer Withdrawals

Nick Marinoff writes Australia Will Not Treat Digital Assets Like Foreign Currency

  • Ripple price started a fresh decline from the $0.3900 resistance against the US dollar.
  • The price is now trading below $0.355 and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $0.3780 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could continue to move down if it breaks the $0.330 and $0.325 support levels.

Ripple price is declining below $0.355 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3250 to avoid more losses in the near term.

Ripple Price Analysis

After forming a base near the $0.3650 zone, ripple price started a fresh increase against the US Dollar. The XRP/USD pair was able to clear the $0.3780 resistance zone.

The price even broke the $0.3880 resistance and the 55 simple moving average (4-hours). However, there was no move above the $0.4000 resistance zone. A high was formed near $0.3919 before there was a fresh decline. The price declined below the $0.3800 support zone.

There was a clear move below the $0.3750 level and the 55 simple moving average (4-hours). Besides, there was a break below a major bullish trend line with support near $0.3780 on the 4-hours chart of the XRP/USD pair.

The pair traded as low as $0.3319 and is currently consolidating losses. On the upside, the price is facing resistance near $0.3450. It is near the 23.6% Fib retracement level of the recent decline from the $0.3919 swing high to $0.3319 low.

The next major resistance is near the $0.3600 level. It is close to the 50% Fib retracement level of the recent decline from the $0.3919 swing high to $0.3319 low. A clear move above the $0.3600 and $0.3620 resistance zones might start a fresh increase.

In the stated case, the price could even surpass the $0.380 resistance. Any more gains might send the price towards the $0.4000 resistance. An initial support on the downside is near the $0.3320 level.

The next major support is near the $0.3250 level. Any more losses could lead the price towards the $0.3050 level, below which the price might even test $0.3000.

Ripple Price

Ripple Price

Looking at the chart, ripple price is now trading below the $0.3650 zone and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.330 and $0.325 support levels.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is below the 50 level.

Key Support Levels – $0.3320, $0.3250 and $0.3000.

Key Resistance Levels – $0.3500 and $0.3620.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *