HomeAltcoin NewsRipple Price Analysis: XRP Turns Red and At Risk Below $0.45

Ripple Price Analysis: XRP Turns Red and At Risk Below $0.45

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  • Ripple price started a fresh decline from the $0.484 zone against the US dollar.
  • The price is now trading below $0.465 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.456 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it stays below the $0.465 resistance zone.

Ripple price is struggling below $0.480 against the US Dollar, similar to Bitcoin. XRP price could decline further if it settles below the $0.440 support in the near term.

Ripple Price Analysis

This past week, Ripple price attempted an upside break above the $0.484 zone against the US Dollar. The XRP/USD pair failed to gain bullish momentum and declined below $0.472.

The price started a fresh bearish wave and declined below the $0.4650 support. It even traded below the 55 simple moving average (4 hours) and spiked below the $0.440 support. A low is formed near $0.4252 and the price is now attempting a recovery wave.

XRP is now trading below $0.465 and the 55 simple moving average (4 hours). Besides, there is a key bearish trend line forming with resistance near $0.456 on the 4-hour chart of the XRP/USD pair.

On the upside, the price is facing resistance near $0.440. It is close to the 23.6% Fib retracement level of the downward move from the $0.4868 swing high to the $0.4252 low. The next major resistance is near the $0.4560 level and the trend line.

The trend line is close to the 50% Fib retracement level of the downward move from the $0.4868 swing high to the $0.4252 low. A clear move above the trend line resistance might start a fresh increase. In the stated case, the price could even surpass the $0.4650 resistance. Any more gains might send the price toward the $0.500 resistance.

Initial support on the downside is near $0.432. The next major support is near the $0.425 level. Any more losses could lead the price toward the $0.400 level, below which the price might even test $0.388.

Ripple Price
Ripple Price

Looking at the chart, Ripple’s price is now trading below the $0.465 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it stays below the $0.465 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 – $0.4320, $0.4250, and $0.4000.

Key Resistance Levels – $0.4560 and $0.4650.

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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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