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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Ripple (XRP) Targets Fresh Lows Despite Positive Crypto Sentiment

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Technical Analysis XRP USD

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  • Ripple price is still trading in the red zone below the $0.2000 resistance against the US dollar.
  • The price is declining and it could soon break the $0.1840 support area to continue lower.
  • This week’s key bearish trend line is still active with resistance near $0.2055 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • A clear break below $0.1840 and $0.1800 might push the price to a new monthly low.

Ripple price is showing bearish signs against the US Dollar, while bitcoin and Ethereum are in the green zone. XRP price remains at a risk of more losses below $0.1800.

Ripple Price Analysis

Yesterday, we saw a sharp increase in bitcoin and most major altcoins, but ripple struggled gain strength above $0.1900 against the US Dollar. XRP price traded above the $0.1920 and $0.1950 resistance levels, but it lacked bullish momentum.

The price failed to continue above the $0.2000 resistance and remained well below the 100 hourly simple moving average. A swing high is formed near $0.2007 and the price is currently correcting lower.

It broke the $0.1950 support area. Besides, the price traded below the 50% Fib retracement level of the recent upward move from the $0.1739 low to $0.2007 high.

On the downside, there are important supports near the $0.1850 and $0.1840 levels. The 61.8% Fib retracement level of the recent upward move from the $0.1739 low to $0.2007 high is also near the $0.1840 level.

Therefore, a downside break below the $0.1840 support could start another decline. The next major support is near the $0.1800 level, below which ripple price will most likely break the $0.1739 low.

Any further losses might lead the price towards the $0.1650 level. On the upside, there are many hurdles near the $0.1940 and $0.1950 levels. The main hurdle is still near the $0.2000 area.

Additionally, this week’s key bearish trend line is still active with resistance near $0.2055 on the hourly chart of the XRP/USD pair. A successful close above $0.2000 and the bearish trend line is needed for a decent upward move in the near term.

Ripple Price
Ripple Price

Looking at the chart, ripple price is clearly moving in the bearish zone below $0.1900. If there is a downside break below $0.1840, the price is likely to accelerate lower in the near term below $0.1800 and $0.1750. The main support is now near $0.1650.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 40 level.

Major Support Levels – $0.1850, $0.1840 and $0.1800.

Major Resistance Levels – $0.1950, $0.2000 and $0.2050.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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