Thursday , March 28 2024
Home / Altcoins / Ripple Price Analysis: XRP Could Dive Below $0.44

Ripple Price Analysis: XRP Could Dive Below $0.44

Summary:
Ripple price started a fresh decline from the %excerpt%.490 zone against the US dollar. The price is now trading below %excerpt%.480 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near %excerpt%.4550 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it stays below the %excerpt%.490 resistance zone. Ripple price is struggling below %excerpt%.490 against the US Dollar, similar to Bitcoin. XRP price could decline heavily if it breaks the %excerpt%.440 support in the near term. Ripple Price Analysis This past week, Ripple price attempted an upside break above the %excerpt%.500 zone against the US Dollar. The XRP/USD pair failed to gain bullish momentum and formed a high near %excerpt%.4868. The price started a fresh bearish wave

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

This could be interesting, too:

Chimamanda U. Martha writes US Court Rules Coinbase Must Face SEC’s Lawsuit

staff writer writes Aerodrome Propels Coinbase’s Base Layer 2 Network to Billion TVL Milestone

Bena Ilyas writes Bitcoin ETF Success in US Sparks Debate among Japan’s Crypto Exchanges

Godfrey Benjamin writes VeChain (VET) Joins Tokenization Scene with MaaS Launch

  • Ripple price started a fresh decline from the $0.490 zone against the US dollar.
  • The price is now trading below $0.480 and the 55 simple moving average (4 hours).
  • There is a key rising channel forming with support near $0.4550 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.490 resistance zone.

Ripple price is struggling below $0.490 against the US Dollar, similar to Bitcoin. XRP price could decline heavily if it breaks the $0.440 support in the near term.

Ripple Price Analysis

This past week, Ripple price attempted an upside break above the $0.500 zone against the US Dollar. The XRP/USD pair failed to gain bullish momentum and formed a high near $0.4868.

The price started a fresh bearish wave and declined below the $0.4750 support. It even traded below the $0.470 level and spiked below the 55 simple moving average (4 hours). It is now testing the 50% Fib retracement level of the upward move from the $0.4322 swing low to the $0.4868 high.

XRP is now trading below $0.480 and the 55 simple moving average (4 hours). Besides, there is a key rising channel forming with support near $0.4550 on the 4-hour chart of the XRP/USD pair.

On the upside, the price is facing resistance near $0.470. The next major resistance is near the $0.485 level. A clear move above the $0.4850 and $0.4900 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.5000 resistance. Any more gains might send the price toward the $0.520 resistance.

Initial support on the downside is near $0.460. The next major support is near the $0.455 level and the channel trend line. It is close to the 61.8% Fib retracement level of the upward move from the $0.4322 swing low to the $0.4868 high. Any more losses could lead the price toward the $0.440 level, below which the price might even test $0.4000.

Ripple Price Analysis: XRP Could Dive Below $0.44

Ripple Price

Looking at the chart, Ripple’s price is now trading below the $0.490 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it stays below the $0.490 resistance zone.

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 – $0.4600, $0.4550, and $0.4400.

Key Resistance Levels – $0.4850 and $0.4900.

Tags: ,

Leave a Reply

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