HomeAltcoin NewsRipple Price Analysis: Bears Aim Break Below $0.45

Ripple Price Analysis: Bears Aim Break Below $0.45

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  • Ripple price is facing resistance near the $0.520 level against the US dollar.
  • The price is now trading above $0.52 and the 55 simple moving average (4 hours).
  • There was a break below a key bullish trend line with support near $0.4910 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could continue to move down below the $0.4720 support zone.

Ripple price is struggling below $0.520 against the US Dollar, unlike Bitcoin. XRP price must stay above the $0.472 support to remain in a bullish zone.

Ripple Price Analysis

After struggling to stay above $0.525, Ripple price started a fresh decline against the US Dollar. The XRP/USD pair gained bearish momentum below the 0.515 support zone.

The bears were able to push the price below the $0.50 support. There was a break below a key bullish trend line with support near $0.4910 on the 4-hour chart of the XRP/USD pair. There was a move below the 50% Fib retracement level of the upward move from the $0.4550 swing low to the $0.5263 high.

XRP is now trading above $0.52 and the 55 simple moving average (4 hours). It is now testing the 61.8% Fib retracement level of the upward move from the $0.4550 swing low to the $0.5263 high.

Initial support on the downside is near the $0.4820 level. The next major support is near the $0.4715 level, below which the price could accelerate lower toward the $0.4550 support. Any more losses could lead the price toward the $0.432 level.

On the upside, the price is facing resistance near $0.490 and the 55 simple moving average (4 hours). The next major resistance is near the $0.5020 level.

A clear move above the $0.5020 resistance zone might start a steady increase. In the stated case, the price could even surpass the $0.5150 resistance and a connecting bearish trend line. Any more gains might send the price toward the $0.540 resistance.

Ripple Price
Ripple Price

Looking at the chart, Ripple price is now trading below the $0.50 zone and the 55 simple moving average (4 hours). Overall, the price could continue to move down below the $0.4720 support 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 – $0.482, $0.472, and $0.455.

Key Resistance Levels – $0.5020 and $0.5150.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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