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


    24 Hour Change


    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    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


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    National Internet Finance Association of China Warns Against Manipulative Crypto Exchanges

    The National Internet Finance Association of China(NIFA) has issued a warning for investors who have been associated with the crypto-verse about the growing risks...

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.