Ripple Price Technical Analysis – XRP/USD Bearish Pressure Escalates

Ripple Price Technical Analysis XRP USD

Key Highlights

  • Ripple price remained in a bearish trend and it traded below the $1.60 support against the US Dollar.
  • This week’s highlighted major bearish trend line with current resistance at $1.85 is preventing upsides on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price remains at a risk of more losses as long as it is below the $1.80 level.

Ripple price declined further against the US Dollar and Bitcoin. XRP/USD tested the $1.50 level and it is currently placed in the bearish zone for more declines.

Ripple Price Decline

There was no respite for Ripple price as it extended declines below the $1.75 level against the US Dollar. The price moved down and broke the $1.60 support level as well to trade towards $1.50. A low was formed at $1.5002 and it seems like the current bearish pressure is here to stay. A tiny recovery is underway from $1.50. XRP is currently testing the 23.6% Fib retracement level of the last drop from the $2.05 high to $1.50 low.

There are many resistances on the upside near the $1.75 and $1.80 level. An initial resistance is around the 50% Fib retracement level of the last drop from the $2.05 high to $1.50 low. Moreover, this week’s highlighted major bearish trend line with current resistance at $1.85 is preventing upsides on the hourly chart of the XRP/USD pair. Therefore, there is a clear major resistance forming near $1.80. A break above the $1.80-1.85 levels is needed for buyers to take back the lost control.

Ripple Price Technical Analysis XRP USD

On the downside, the recent low of $1.50 is a decent support. XRP must hold $1.50 to avoid further declines toward $1.25 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is recovering from the 30 level.

Major Support Level – $1.50

Major Resistance Level – $1.85

 

Charts courtesy – Trading View, Kraken

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

  • PhishyKris

    Chart is just a tad out of date. Does not account for MoneyGram news and other news to follow in the coming weeks. We’ll see if if trends bearish, but I’m seeing a bottom and reversal, albeit slowly

  • Anand George

    Dude XRP is already trading at $2.0135 levels. The technicals are out of place.

  • Xitiz Pugalia

    Dumbest post read today…!!!

  • Sane Singh

    People like you are a shame to journalism. NewsBTC should fire you.

  • Shaun

    You do realize kraken has been down for 2 days. This post is so out of date to have only been released an hour ago.

  • Atul Batra

    Looks like this guy just copies articles from other posts. You should have published this yesterday would have made more sense. Price today is way higher than you know. Good luck with your crypto trading.

  • Alan Hickman

    What a joke.

    “XRP must hold $1.50 to avoid further declines toward $1.25 in the near term.” You’re kidding right? You mean if it falls below $1.50 that it’s heading toward $1.25? Are you serious? My god, I never would’ve figured that out had you not pointed it out!

    I swear my 10 year old could’ve written this article.

  • Ghazi Timoumi

    What a joke . at least take a bit of time to see how the prices are doing

  • Darijo Krajinovic

    This post is a real waste of time!!!

  • Bengt Petersson

    Gud.

  • Cirus Danah

    What a jackass hater !

  • Cirus Danah

    I dont know which one is worse.

  • Gary

    waste of time! always check your information before making public…useless

  • Cody Kirk

    This article is a repost from days ago. Author must have bet against XRP or something because the price adjustment from South Korean exchanges made prices slip and many exchanged out of XRP at the sight of it dropping. This money will come back and pump XRP up again especially on the MoneyGram news and look for AMEX’s quarterly results to shine light on how much they save with using Ripple and other larger money movers following suit. If companies move money cheaper and faster with Ripple they increase their margins and pump up the bottom line that investors love.

  • Kissa Allen

    You wrote this a day ago? #DoYouEvenCryptoBro

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