HomeAltcoin NewsRipple Price Analysis: Risk of More Downsides To $0.175

Ripple Price Analysis: Risk of More Downsides To $0.175

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  • Ripple price started a major decline from well above the $0.2300 level against the US dollar.
  • The price is now trading in a bearish zone below the $0.2000 pivot level.
  • There was a break below a crucial bullish trend line with support near $0.2165 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The pair could correct a few points, but the bears are likely to protect $0.2085 or $0.2110.

Ripple price is currently recovering from the $0.1880 swing low against the US Dollar. XRP price is likely to continue lower towards $0.1750 unless it climbs above $0.2110.

Ripple Price Analysis

This past week, ripple price surged above the $0.2200 resistance area against the US Dollar. The XRP/USD pair even spiked above the $0.2300 level, but it struggled to gain traction above $0.2350.

Later, the price formed a support base above $0.2150 and made a few attempts to climb above $0.2250, but it failed. As a result, there was a sharp decline below the $0.2150 and $0.2110 support levels.

During the decline, there was a break below a crucial bullish trend line with support near $0.2165 on the 4-hours chart of the XRP/USD pair. The pair settled below the $0.2000 pivot level and the 55 simple moving average (4-hours).

A swing low is formed near $0.1878 and the price is currently correcting. It seems like there is a short term declining channel forming with resistance near $0.1995 on the same chart.

Ripple price is currently consolidating near the 23.6% Fib retracement level of the key decline from the $0.2253 high to $0.1878 low. On the upside, there is a major hurdle forming near the $0.2000 level.

If there is an upside break above the $0.2000 level, the price could correct higher towards the $0.2085 level. It is also close to the 50% Fib retracement level of the key decline from the $0.2253 high to $0.1878 low.

To move into a positive zone, XRP price must climb above $0.2060 and $0.2085 in the near term. If not, the price is likely to resume its decline below $0.1900 and $0.1880. The next major support is seen near the $0.1765 level, where the bulls might take a stand.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly trading in a bearish zone below $0.2000 and $0.2085. Therefore, there is a risk of more downsides towards the $0.1765 and $0.1750 support levels.

Technical indicators

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

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently recovering towards the 40 level.

Key Support Levels – $0.1900, $0.1880 and $0.1765.

Key Resistance Levels – $0.2000 and $0.2085.

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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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