Ripple Price Analysis: XRP Could Target Fresh Weekly Lows

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  • Resistance against the US dollar.
  • There is a key bullish trend line formed with support at $ 0.3240 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair could break to the downside if the sellers push the price below $ 0.3200 and $ 0.3150.

US Dollar and Bitcoin. XRP / USD could accelerate losses if buyers continue to struggle above $ 0.3300 in the near term.

Ripple Price Analysis

Recently, there was a dip below the $ 0.3250 and $ 0.3200 support in the ripple price against the US Dollar. The XRP / USD pair traded as low as $ 0.3192 and later corrected higher. It moved above the $ 0.3220 and $ 0.3250 resistance levels. 50% Fib retracement of the last slide from the $ 0.3383 high to $ 0.3192 low. Moreover, there was a break above the $ 0.3300 level and the 100 hourly simple moving average.

Buyer also pushed the price above with a bearish trend line with resistance at $ 0.3260 on the hourly chart of the XRP / USD pair. However, the upside move was capped by the $ 0.3320 and $ 0.3330 resistance levels. 61.8% Fibreflexion of the last slide from the $ 0.3383 high to $ 0.3192 low. As a result, it is a reduction below the $ 0.3300 level and the 100 hourly simple moving average. Support for the bullish trend line with $ 0.3240 on the same chart. If there is a downside below the trend line and $ 0.3220, the price could accelerate losses.

Ripple Price Analysis XRP Chart

Into the bearish zone $ 0.3250. If buyers continue to struggle, there could be more declines below $ 0.3200. The next key supports are $ 0.3150 and $ 0.3105.

Technical Indicators

Hourly MACD – The MACD for XRP / USD is showing a few negative signs in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP / USD is currently well below the 50 level.

Major Support Level – $ 0.3200

Major Resistance Level – $ 0.3300

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