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Ripple price followed a bearish path below the $0.3400 and $0.3175 support levels. XRP/USD is currently trading near the key $0.3175-0.3200 resistance area and is struggling to continue higher.

  • Ripple price declined steadily and even broke the $0.3000 support area.
  • A crucial resistance is formed near $0.3175 and a bearish trend line on the 30-minute chart.
  • XRP/USD could resume its decline if there is no upside break above $0.3175 and $0.3200.

Ripple Price

Ripple Price Analysis (XRP to USD)

Recently, there was a sharp decline in bitcoin, Ethereum, ripple and other major altcoins. BTC/USD traded below the $10,600 support, ETH/USD declined towards $200.00 and XRP/USD settled below the key $0.3175-0.3200 support area.

Ripple Price Analysis (XRP to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair declined steadily from the $0.3500 swing high and broke a few important supports near the $0.3400, $0.3320 and $0.3200 levels.

Moreover, there was a close below the $0.3175 support and the 25 simple moving average (30-minute chart). Finally, the price broke the $0.3000 support level and a new multi-week low was formed near the $0.2944 level.

Recently, the price started an upside correction above $0.3000 and the 23.6% Fib retracement level of the recent slide from the $0.3343 high to $0.2944 swing low.


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However, the price is facing a lot of hurdles on the upside near the $0.3150, $0.3175 and $0.3200 levels. At the outset, the 50% Fib retracement level of the recent slide from the $0.3343 high to $0.2944 swing low is acting as a resistance.

More importantly, there is a crucial resistance is formed near $0.3175 and a bearish trend line on the same chart. Therefore, to start a decent recovery, ripple price needs to clear the $0.3200 resistance settle nicely above the 25 simple moving average (30-minute chart).

In the mentioned case, the price could recover towards the last swing high at $0.3343. Any further gains may perhaps push the price towards the $0.3500 level.

Conversely, if ripple price fails to recover above the $0.3150, $0.3175 and $0.3200 resistance levels, it could slide again towards the $0.3000 and $0.2950 levels.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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