• 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 (XRP) Could Underperform: Recovery Could Face Hurdles

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ripple
Advertisement
Listen to Article
  • Ripple price declined heavily below the $0.3800 and $0.3500 support levels against the US dollar.
  • The price even traded close to the $0.3000 support level and it is currently correcting higher.
  • There is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price could correct higher, but upsides are likely to remain capped near $0.3460.

Ripple price is currently under a lot of pressure against the US Dollar and bitcoin. XRP price might recover towards the $0.3460 level, but later it could resume its slide.

Ripple Price Analysis

Recently, there was a sharp decline in bitcoin, Ethereum and ripple against the US Dollar. XRP/USD declined heavily below the $0.3800 and $0.3500 support levels. It opened the doors for more losses below the $0.3460 support level. Moreover, the price even broke the $0.3200 support and the 100 hourly simple moving average. Finally, the price traded close to the $0.3000 level and a new monthly low was formed near the $0.3035.

Recently, there was an upside correction above the $0.3150 and $0.3200 levels. The price climbed above the 50% Fib retracement level of the recent decline from the $0.3626 high to $0.3035 low. However, the upward move was capped by the $0.3400 level. Besides, there is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP/USD pair.

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

The 61.8% Fib retracement level of the recent decline from the $0.3626 high to $0.3035 low also acted as a hurdle recently. It seems like ripple price might correct higher above the $0.3320 resistance area. However, the bulls are likely to face a strong resistance near the $0.3400 or $0.3460 level. The main resistance on the upside is near the $0.3750 level and the 100 hourly simple moving average.

On the other hand, if the price fails to correct above $0.3400 or $0.3460, there could be a fresh decline. An immediate support is near the $0.3180 level. If there is a downside break below $0.3180, the price is likely to revisit the $0.3030 or $0.3000 level.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is currently consolidating losses above the $0.3200 level. It may correct higher above $0.3320 or $0.3350. Having said that, the bulls are likely to struggle and the price could resume it slide if there is no successful break above the $0.4460 resistance area.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD recovered recently, but failed near the 40 level.

Major Support Levels – $0.3200, $0.3180 and $0.3030.

Major Resistance Levels – $0.3320, $0.3400 and $0.3460.

Tags: Ripplexrp
TweetShare26
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

Chainlink (LINK)

Charted: Chainlink (LINK) Correcting Gains, Why Dips Remain Attractive

4 hours ago
Ethereum

TA: Ethereum Trims Gains, Why ETH Could Find Strong Support Near $1,275

6 hours ago
Bitcoin

TA: Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

8 hours ago
chainlink massive bearish divergence altcoin crypto

Massive Bearish Divergence Hints At First Major Chainlink Corrective Phase

10 hours ago
Ethereum

Analyst: Ethereum Likely to Tag $2,000 in Near-Term as Rally Turns Parabolic

14 hours ago
ethereum bitcoin

Ethereum Beats Bitcoin Performance Two Years Straight, What’s Next?

15 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

1xBit Introduces New Live Casino Tournament DEAL OR NO DEAL

January 26, 2021

BitMarket Network Client – Open Multicurrency Crypto Wallet

January 26, 2021

Mercuryo, Binance’s Fiat Processor Partner, Announces Major Move to North American Market

January 26, 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.