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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

XRP Price Prediction: Risk of Bearish Break Below $0.38

Aayush Jindal
Aayush Jindal
2 years ago
2 mins read
Ripple (XRP)

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Ripple is struggling to stay above the $0.42 resistance zone against the US Dollar. XRP price could decline heavily if there is a close below $0.38.

  • Ripple is currently moving lower from the $0.42 resistance zone against the US dollar.
  • The price is now trading below $0.40 and the 100 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.4110 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could decline heavily if there is a close below the $0.38 support zone.

Ripple Price Revisits Support

This past week, ripple’s XRP made another attempt to clear the $0.42 resistance against the US Dollar. The price failed to gain strength and struggled to clear $0.42. A high was formed near $0.4204 and the price started a fresh decline.

There was a move below the $0.4120 support to move into a short-term bearish zone, similar to bitcoin and ethereum. The price even tested the key $0.3860 support zone.

A low is formed near $0.3861 and xrp price is now consolidating losses. It is trading below $0.40 and the 100 simple moving average (4-hours). An immediate resistance is near the $0.4040 zone. It is close to the 50% Fib retracement level of the recent decline from the $0.4204 swing high to $0.3861 low.

The next key resistance is near the $0.412 level. There is also a key bearish trend line forming with resistance near $0.4110 on the 4-hours chart of the XRP/USD pair.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The trend line is close to the 61.8% Fib retracement level of the recent decline from the $0.4204 swing high to $0.3861 low. A successful break above the $0.412 resistance might send the price towards the $0.420 resistance. Any more gains might send the price towards the $0.45 level.

Downside Break in XRP?

If ripple fails to clear the $0.412 resistance zone, it could continue to move down. An initial support on the downside is near the $0.3860 level.

The next major support is near $0.380. If there is a downside break and close below the $0.380 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.350 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.386, $0.380 and $0.350.

Major Resistance Levels – $0.412, $0.420 and $0.450.

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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.

Read more

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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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