• 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
    • What is Bitcoin?
    • 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
    • What is Bitcoin?
    • 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

Why Ripple (XRP) Bulls Need To Be Careful After New 2-Year Low?

Aayush Jindal by Aayush Jindal
1 year ago
in Technical analysis
Reading Time: 2min read
ripple xrp
Advertisement
Nexo Logo
Listen to Article
  • Ripple price is diving below $0.1900 and it recently traded to a new 2-year low against the US dollar.
  • It broke a significant support, opening the doors for further losses below $0.1800.
  • There is a key bearish trend line forming with resistance near $0.2100 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • BTC and ETH are also sliding and gaining bearish momentum below $7,000 and $130 respectively.

Ripple price is now trading below a major multi-month support against the US Dollar. Therefore, XRP bulls need to be careful, considering chances of more losses below $0.1800.

Ripple Price Analysis

In the past few weeks, there was a steady decline in bitcoin, Ethereum and XRP against the US Dollar. Moreover, XRP price settled below the key $0.2200 pivot area and the 100 simple moving average (4-hours).

Therefore, it cleared the way for more losses below $0.2100. Finally, the price broke a major support area near the $0.2000 level and a crucial multi-month support near $0.1980.

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

The price declined heavily and even spiked below the $0.1800 level. A new 2-year low was formed near $0.1770 and the price is currently correcting higher. An initial resistance for ripple is near the $0.1880 level.

Besides, the 23.6% Fib retracement level of the recent decline from the $0.2195 high to $0.1770 low is near the $0.1870 level. If there is an upside correction above $0.1880, the price could recover towards the $0.1980 resistance area.

The breakdown supports near $0.1980 and $0.2000 are likely to act as key hurdles. Additionally, the 50% Fib retracement level of the recent decline from the $0.2195 high to $0.1770 low is near the $0.1982 level.

More importantly, there is a key bearish trend line forming with resistance near $0.2100 on the 4-hours chart of the XRP/USD pair. Therefore, if the price starts a recovery, it is likely to struggle near $0.2000 and $0.2100.

A successful daily close above the $0.2100 level is needed to start a strong recovery. If not, the bulls need to be very careful in the next few weeks, as there could be massive moves and drops in ripple below the $0.1800 level.

Ripple Price XRP
Ripple Price

Looking at the chart, ripple price is showing signs of a short term correction, but the bears are likely to protect $0.2000. On the downside, the main supports are near $0.1800 and $0.1680.

Technical Indicators

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well into the oversold area.

Major Support Levels – $0.1800, $0.1740 and $0.1680.

Major Resistance Levels – $0.1980, $0.2000 and $0.2100.

Tags: Ripplexrp
TweetShare32
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

Latest CME Report Reveals Growing Appetite for Bitcoin Amongst Institutions

31 mins ago
ethereum open interest all time high record

Ethereum Open Interest Reaches All-Time High Alongside Record Breaking Rally

31 mins ago
Ripple (XRP)

Charted: Ripple (XRP) Surges 15%, Why The Bulls Are Back In Control

13 hours ago
Ethereum

TA: Ethereum Smashes Key Resistance: Why ETH Could Rally To New ATH

15 hours ago
Bitcoin

TA: Bitcoin Remains At Risk, Why $38K Holds The Key For Fresh Surge

17 hours ago
xrp ada salt crypto

XRP At Risk Of Falling Out Of Crypto Top Five For First Time Since 2013

1 day 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

The Foundation for Economic Education Announces Two Major Gifts from Bitcoin.com Founder Roger Ver

January 19, 2021

AC Milan to Join Sports Crypto Movement With Launch of $ACM Fan Token

January 19, 2021

Institutional-grade Crypto Exchange AAX Reports Record Fiat-Crypto Purchases in 2021

January 19, 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
    • What is Bitcoin?
    • 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.