• 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
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
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Ripple Price (XRP) Targets Fresh Weekly Low After Bitcoin Nosedives

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis ripple
Advertisement
  • Ripple price is trading in a downtrend below the $0.3000 and $0.3050 resistances against the US dollar.
  • The price is likely to extend its decline considering the recent decline in bitcoin price below $11,000.
  • There is a major bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is facing an uphill task and it could even break the $0.2900 support area in the near term.

Ripple price is trading with a bearish angle against the US Dollar, while recovering vs bitcoin. XRP price might slide below the last swing low at $0.2895.

Ripple Price Analysis

Yesterday, ripple price corrected above the $0.3000 resistance level against the US Dollar. The XRP/USD pair even traded above $0.3040a and 100 hourly simple moving average. However, the bulls struggled to gain momentum above the $0.3050 and $0.3060 resistance levels. As a result, the price formed a swing high at $0.3060 and recently declined below the $0.3000 support.

Moreover, there was a break below the $0.2950 support and a swing low was formed at $0.2917. The price is correcting higher above $0.2950 plus the 23.6% Fib retracement level of the last slide from the $0.3062 high to $0.2917 low. However, there is a strong resistance forming near the $0.2990 and $0.3000 levels. Additionally, there is a major bearish trend line forming with resistance near $0.2980 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!

Above the trend line, the 50% Fib retracement level of the last slide from the $0.3062 high to $0.2917 low is at $0.2990. More importantly, the 100 hourly simple moving average is positioned near the $0.3000 area to act as a resistance.  Therefore, an upside break above the $0.3000 resistance might start a decent recovery in the near term. The next key resistances are near the $0.3050 and $0.3060 levels.

Conversely, if there is no upside break above $0.3000, the price could continue to slide. An immediate support is near the $0.2900 area. If there are more downsides, there is a risk of a break below the last swing low near $0.2895. In the mentioned case, the price is likely to drop towards the $0.2840 level.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is facing many hurdles on the upside near $0.2990, $0.3000 and $0.3050. A successful close above the $0.3000 level and the 100 hourly SMA might encourage the bulls in the short term.

Technical Indicators

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still well below the 50 level.

Major Support Levels – $0.2950, $0.2900 and $0.2840.

Major Resistance Levels – $0.2990, $0.3000 and $0.3050.

Tags: Ripplexrp
TweetShare25
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

Cardano (ADA)

Charted: Cardano (ADA) Holding Crucial Support, Why It Could Surge Again

6 hours ago
Ethereum

TA: Ethereum Bears Keep Pushing, Why ETH Could Face Hurdles Near $1,500

8 hours ago
Bitcoin

TA: Bitcoin Price Recovers, Why BTC Could Struggle Near 100 SMA

10 hours ago
Ethereum

Ethereum Gains Bearish Momentum, Why ETH Could Test $1,280

1 day ago
Bitcoin

Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key

1 day ago
bitcoin bid side macro

Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”

3 days ago

Premium Partners

Top Brokers

eToro

eToro

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
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

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 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 +

© 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.