• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Ripple Price Analysis: XRP Signaling Bearish Extension In Short Term

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
Ripple Price Technical Analysis XRP USD
Advertisement
Listen to Article
  • Ripple price failed to stay above the $0.3250 and $0.3200 support levels and declined against the US dollar.
  • This week’s followed major bullish trend line was breached with support near $0.3245 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair declined below $0.3200 and tested the next key support near the $0.3140 level.
  • The current price action is slightly bearish, suggesting more losses towards the $0.3050 support area.

Ripple price failed to hold gains and declined recently against the US Dollar and bitcoin. XRP/USD could decline towards the $0.3050 support before it can start a fresh upward move.

Ripple Price Analysis

Yesterday, we discussed a few important support levels near the $0.3250 level for ripple price against the US Dollar. Recently, the XRP/USD pair started a downside move from well above the $0.3400 level and declined below the $0.3300 and $0.3280 supports. Later, the price found a strong support near the $0.3250 level. More importantly a crucial breakout pattern was formed with support near $0.3250. However, buyers failed to hold gains, resulting in a sharp decline below $0.3250.

During the decline, the price broke the $0.3220 support and the 100 hourly simple moving average. Besides, this week’s followed major bullish trend line was breached with support near $0.3245 on the hourly chart of the XRP/USD pair. The pair even traded below $0.3160 and tested the $0.3150 support. A low was formed at $0.3144 and the price is currently correcting higher. It is testing the 23.6% Fib retracement level of the recent drop from the $0.3337 high to $0.3144 low. However, there are many hurdles on the upside near the $0.3190 and $0.3200 levels.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There is also a bearish trend line in place with resistance near $0.3200 and the 100 hourly SMA. Therefore, a successful break above $0.3200 is needed for a decent recovery. The next resistance could be $0.3250 and the 50% Fib retracement level of the recent drop from the $0.3337 high to $0.3144 low.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price likely moved into a bearish zone below the $0.3250 support level. The current price action is slightly bearish, suggesting more losses towards the $0.3050 support area. Having said that, losses could be limited and sooner or later the price may bounce back above $0.3200. Finally, a close above $0.3250 will most likely boost the market sentiment in favor of buyers.

Technical Indicators

Hourly MACD – The MACD for XRP/USD recovered and moved back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recovered recently, but failed near the 50 level.

Major Support Levels – $0.3150, $0.3140 and $0.3100.

Major Resistance Levels – $0.3200, $0.3240 and $0.3250.

Tags: Ripplexrp
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

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.

Related Posts

bitcoin altcoins

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

50 mins ago
Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

3 hours ago
evening star bitcoin

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

5 hours ago
Ripple (XRP)

Charted: Ripple (XRP) Signaling Bullish Breakout, Why It Could Retest $0.35

18 hours ago
Ethereum

TA: Ethereum Steadies Above $1,280, Why ETH Could Restart Its Rally

20 hours ago
Bitcoin

TA: Bitcoin Struggles Below $36K, Why BTC Could Extend Losses

21 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Piction Network Announces Partnership with PICA

January 21, 2021

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.