Undulation price analysis: XRP / USD broke the key support at $ 0.4270

Key Points

  • The price of undulation failed to maintain significant support at $ 0.4270 and fell against the US dollar
  • C & # 39; is a new bearish trend line formed with resistance at $ 0.4270 on the hourly chart of the XRP / USD pair (data source from Kraken).
  • The pair can correct some points, but broken supports at $ 0.400 and $ 0.4270 could prevent gains.

The price of the ripple has moved into a bearish zone compared to the US dollar and Bitcoin. XRP / USD broke significant support at $ 0.4270 to accelerate losses.

Decline of decline

There was a sharp increase in selling pressure above $ 0.4350 in Ripple's price against the US dollar. The XRP / USD pair failed to exceed the resistance area of ​​$ 0.4400 and refused. He broke some major media like $ 0.4270 and $ 0.4200. The price declined sharply and traded near the $ 0.4000 level. A minimum amounted to $ 0.4028 before the price began to consolidate losses.

An initial upward resistance is the Fib retracement level of 23.6% from the last decline, from $ 0.4364 upwards to $ 0.4028 below. Beyond this, the price can trade towards the $ 0,4200 level, which is a major drag. Furthermore, there is a new downtrend line formed with resistance at $ 0.4270 on the hourly chart of the XRP / USD pair. Previous supports at $ 0.400 and $ 0.4270 are likely to act as barriers to buyers if the price moves higher. Finally, the 61.8% retracement level of Fib of the last drop from the $ 0.4364 high to $ 0.4028 down to $ 0.4236 is also a key resistance.

 XRP ripple price analysis USD

Looking at the chart, ripple the price has made a U-turn and it looks like it could fall further below $ 0.4000. Only a close back above $ 0.4250 and $ 0.4270 levels could push the price back into a positive zone.

Looking at the technical indicators:

MACD timetable – The MACD for XRP / USD is back in the bearish zone

RSI Time (Relative Strength Index) ) – The RSI for XRP / USD is currently being recovered from oversold levels

Main support level – $ 0.4000

main resistance – $ 0.4195

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