HomeAltcoin NewsXRP Price Analysis: XRP Turns At Risk Below $0.50

XRP Price Analysis: XRP Turns At Risk Below $0.50

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  • XRP price started a fresh decline below the $0.520 zone against the US dollar.
  • The price is now trading below $0.50 and the 55 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.492 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
  • The pair could extend losses if it breaks the $0.472 support zone.

XRP price is struggling below $0.50 against the US Dollar, like Bitcoin. The price could decline further if it settles below the $0.472 support in the near term.

Ripple Price Analysis

In the past few days, Ripple’s XRP price started a fresh decline from well above $0.520 against the US Dollar. The XRP/USD pair gained bearish momentum below the $0.512 level.

The bears were able to push the price below the $0.500 support. It even traded below the 55 simple moving average (4 hours) and spiked below the $0.475 support. A low is formed near $0.4730 and the price is now attempting a recovery wave.

There was a move above the $0.484 level. XRP is now trading below $0.50 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.492, and the 23.6% Fib retracement level of the downward move from the $0.5510 swing high to the $0.4730 low.

There is also a key bearish trend line forming with resistance near $0.492 on the 4-hour chart of the XRP/USD pair. The next major resistance is near the $0.512 level. It is near the 50% Fib retracement level of the downward move from the $0.5510 swing high to the $0.4730 low.

A clear move above $0.512 might start a fresh increase. In the stated case, the price could even surpass the $0.520 resistance. Any more gains might send the price toward the $0.550 resistance.

Initial support on the downside is near $0.4780. The next major support is near the $0.4720 level. Any more losses could lead the price toward the $0.450 level, below which the price might even test $0.4320.

XRP Price Analysis
XRP Price Analysis

Looking at the chart, XRP price is now trading below the $0.50 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it breaks the $0.4720 support zone.

Technical indicators

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

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

Key Support Levels – $0.478, $0.472, and $0.450.

Key Resistance Levels – $0.492 and $0.512.

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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