More

    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 =$0.2318 change ~ -2.46%

    Coin Market Cap

    $10.04 Billion

    24 Hour Volume

    $433.74 Million

    24 Hour VWAP

    $0

    24 Hour Change

    $-0.0057

    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

    3,260FansLike
    2,714FollowersFollow
    4,081FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, Block.one had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    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.