Ripple Price Analysis: XRP/USD Targets Fresh Weekly Low

Ripple price is currently declining and trading below the $0.2240 resistance area. XRP to USD is likely to continue lower towards the key $0.2130 support area in the near term.

Key Takeaways: XRP/USD

  • Ripple price is trading in a bearish zone below the $0.2240 resistance area against the US Dollar.
  • XRP/USD is following a declining channel with resistance near $0.2220 on the 2-hours chart (data feed from Bitstamp)
  • Bitcoin price is also declining, but it is holding the $7,180 and $7,080 support levels.

Ripple Price Analysis

In the past few days, ripple price remained in a declining zone from well above the $0.2300 level. XRP to USD broke a couple of key supports near the $0.2200 level to start a fresh bearish wave.

Ripple Price Analysis

Looking at the 2-hours chart, ripple price even settled below the $0.2200 support level and the 50 simple moving average (2-hours, purple). During the decline, there was a break below the 23.6% Fib retracement level of the last main upward move from $0.2006 to $0.2321.

Finally, the price traded below the $0.2192 support and tested the $0.2175 support area. An immediate support below $0.2175 is near the $0.2164 level.

Besides, the 50% Fib retracement level of the last main upward move from $0.2006 to $0.2321 is also near the $0.2165 level. However, the main support for ripple price is near the $0.2130 level (the previous breakout zone).

A downside break below $0.2130 could open the doors for more downsides. The next support could be near the $0.2080 level. It is near the 76.4% Fib retracement level of the last main upward move from $0.2006 to $0.2321.

Conversely, ripple price is facing a strong resistance near the $0.2220 and $0.2240 levels. It seems like the price is following a declining channel with resistance near $0.2220 on the 2-hours chart.

Therefore, the price must break the $0.2220 resistance area. An immediate hurdle for ripple above $0.2220 is near the $0.2240 level and the 50 simple moving average (2-hours, purple), above which the price is likely to rise steadily towards $0.2350 and $0.2400.

Live Ripple (XRP) Price:

1 XRP/USD =$0.2889 change ~ -1.73%

Coin Market Cap

$12.51 Billion

24 Hour Volume

$319.42 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0050

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.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,468FansLike
2,795FollowersFollow
4,235FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

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.

Start Using Crypto Today