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    Ripple Price Analysis: XRP/USD Could Extend Decline Below $0.27

    Ripple price started a fresh decline and settled below the $0.3000 pivot area. XRP to USD is correcting higher, but it is likely to fail near $0.2940 and continue lower.

    Key Takeaways: XRP/USD

    • Ripple price is trading in a bearish zone below the $0.2940 and $0.3000 resistance levels against the US Dollar.
    • XRP/USD is following a key bearish trend line with resistance near $0.2910 on the 2-hours chart (data feed from Bitstamp)
    • Bitcoin price is facing an increase in selling pressure below $9,800.

    Ripple Price Analysis

    After a strong rise above $0.3400, ripple price failed to hold gains. As a result, XRP to USD declined heavily below the $0.3250 and $0.3000 support levels to move back into a bearish zone.

    Ripple Price Analysis

    Looking at the 2-hours chart, ripple price settled below the $0.3000 level and the 50 simple moving average (2-hours, purple). The decline was such that the price spiked below the $0.2800 level and traded as low as $0.2689.

    Recently, there was a minor upside correction above the $0.2720 and $0.2820 levels. The price even recovered above the 23.6% Fib retracement level of the downward move from $0.3188 to $0.2689.

    However, the upward move was capped by the $0.2900 and $0.2920 resistance levels. Besides, ripple price is following a key bearish trend line with resistance near $0.2910 on the 2-hours chart.

    The price failed to clear the 50% Fib retracement level of the downward move from $0.3188 to $0.2689. It is now declining and trading below the $0.2850 level.

    The current price action suggests chances of more losses below the $0.2720 level. If the bulls fail to protect the $0.2700 support, there is a risk of a sharp decline in the coming sessions.

    Conversely, ripple price could start a decent upward move above the $0.2920 and $0.2940 resistance levels. The main hurdle is still near the $0.3000 level and the 50 simple moving average (2-hours, purple), above which the bulls are likely to gain pace.

    Overall, the trend is short term bearish and the price could extend losses below $0.2750 and $0.2720.

    Live Ripple (XRP) Price:

    1 XRP/USD =$0.1794 change ~ 0.13%

    Coin Market Cap

    $7.77 Billion

    24 Hour Volume

    $127.19 Million

    24 Hour VWAP

    $0

    24 Hour Change

    $0.0002

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    Avatar
    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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