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    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 =$0.1798 change ~ 0.34%

    Coin Market Cap

    $7.78 Billion

    24 Hour Volume

    $128.74 Million

    24 Hour VWAP

    $0

    24 Hour Change

    $0.0006

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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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