HomeAltcoin NewsRipple Price Analysis: Remains At Risk of a Drop Below $0.48

Ripple Price Analysis: Remains At Risk of a Drop Below $0.48

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  • Ripple price is struggling to clear the $0.5400 and $0.5500 resistance levels against the US dollar.
  • The price is still above the $0.4800 support, but it is well below the 55 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $0.5520 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could decline heavily if there is a clear break below the $0.4800 and $0.4750 support levels.

Ripple price is showing bearish signs below $0.5500 against the US Dollar. XRP price remains at a risk of more losses unless it surges past $0.5500.

Ripple Price Analysis

This past week, there was another rejection in ripple price near the $0.6000 resistance zone against the US Dollar. The XRP/USD pair traded as high as $0.5934 and started a fresh decline.

The price broke the $0.5500 support zone to move into a bearish zone. The decline gained pace below the $0.5200 level and the price settled well below the 55 simple moving average (4-hours). However, the bulls remained active above the key $0.4800 support zone.

A low is formed near $0.4873 and the price is currently consolidating losses. There was a recovery wave above the $0.5000 and $0.5100 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.5934 swing high to $0.4873 low.

XRP price is now facing resistance near the $0.5280 level. The first key resistance is near the $0.5400 level. The 50% Fib retracement level of the downward move from the $0.5934 swing high to $0.4873 low is also near the $0.5400 level.

Moreover, there is a crucial bearish trend line forming with resistance near $0.5520 on the 4-hours chart of the XRP/USD pair. To move into a positive zone, the price must gain momentum above the $0.5400 and $0.5500 resistance levels.

Conversely, the price could fail to surpass $0.5280 and $0.5500. The main support on the downside is near the $0.4800 level. The price might decline heavily if there is a clear break below $0.4800.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly struggling to clear the $0.5400 and $0.5500 resistance levels. Overall, the price could decline heavily if there is a clear break below the $0.4800 and $0.4750 support levels.

Technical indicators

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

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

Key Support Levels – $0.5000, $0.4800 and $0.4750.

Key Resistance Levels – $0.5400 and $0.5500.

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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