Ripple Price Analysis: XRP/USD Turns Sell On Rallies

Ripple price declined heavily in the past few hours and weakened more than 10%. XRP to USD is likely to remain in a downtrend as long as it is below $0.2040 and $0.2100.

Key Takeaways: XRP/USD

  • Ripple price is down more than 10% and it tumbled below the $0.2000 support against the US Dollar.
  • XRP/USD is facing a strong resistance near the $0.2100 level and a bearish trend line on the 2-hours chart (data feed from Bitstamp)
  • Bitcoin price is also under pressure and it is now trading below the $7,000 support.

Ripple Price Analysis

After consolidating for some time, ripple price broke the key $0.2150 support area. As a result, XRP to USD declined more than 10% and broke many supports near the $0.2050 and $0.2000 levels.

Ripple Price Analysis
Ripple Price Analysis

Looking at the 2-hours chart, ripple price even settled below the $0.2000 support level and the 50 simple moving average (2-hours, purple). There was a sharp decline and the price traded close to the $0.1900 level.

A low is formed near $0.1910 and the price is currently correcting higher. It is trading near the 23.6% Fib retracement level of the recent slide from $0.2158 to $0.1910.

On the upside, there are many hurdles near the $0.2000 and $0.2040 levels. Besides, the 50% Fib retracement level of the recent slide from $0.2158 to $0.1910 is near the $0.2035 level.

The main resistance is near the $0.2100 area. It seems like ripple price is facing a strong resistance near the $0.2100 level and a bearish trend line on the 2-hours chart.

Therefore, a clear break above the $0.2040 and $0.2100 resistance levels is needed for a trend change in the near term. If there are more downside, the price could continue to move down towards the $0.1900 support area.

The next major support for ripple price below the $0.1900 support area is near the $0.1850 level. Any further losses may perhaps open the doors for a sharp decline towards the $0.1820 level in the near term. On the upside, the $0.2100 resistance holds the key.

Live Ripple (XRP) Price:

1 XRP/USD =$0.1769 change ~ -0.30%

Coin Market Cap

$7.66 Billion

24 Hour Volume

$130.14 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0005

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

3,471FansLike
2,795FollowersFollow
4,194FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

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