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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Price Technical Analysis – XRP/USD Recovery is Fading?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price started an upside recovery after trading as low as $0.9599 against the US dollar.
  • There was a break above a short-term connecting bearish trend line at $1.0500 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair seems to be struggling to recover above $1.0880 and is moving lower once again.

Ripple price is recovering against the US Dollar and Bitcoin. However, XRP/USD seems to be struggling to gain momentum and it could decline once again.

Ripple Price Resistance

Yesterday, we saw a major decline from the $1.1250 swing high in Ripple price against the US Dollar. The price made a downside move and declined below the $1.0000 support area. It traded as low as $0.9599 before starting an upside correction. It managed to move above the 23.6% Fib retracement level of the last drop from the $1.3419 high to $0.9599 low.

Moreover, there was a break above a short-term connecting bearish trend line at $1.0500 on the hourly chart of the XRP/USD pair. The pair traded close to the 38.2% Fib retracement level of the last drop from the $1.3419 high to $0.9599 low. However, the pair faced a lot of sellers near the $1.0800 and $1.0900 levels. The mentioned $1.0800 level was a support earlier and now it is acting as a resistance. At the moment, it seems like the current recovery is facing and the price may move back below $1.0000.

Ripple Price Technical Analysis XRP USD

On the upside, a proper break above the 1.0900 level is needed. Above the mentioned $1.0900 level, the next hurdle is near the 50% Fib retracement level of the last drop from the $1.3419 high to $0.9599 low at $1.1509.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD has reduced most of its bearish slope.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is once again moving lower and is currently below 50.

Major Support Level – $1.0000

Major Resistance Level – $1.0900

 

Charts courtesy – SimpleFX

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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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Comments 7

  1. Fghjj says:
    7 years ago

    Down to $0.64

    Reply
    • cryptohippy says:
      7 years ago

      Btc down $1000 to $9200 at the same time, but lets ignore that eh….

      Reply
    • Dan says:
      7 years ago

      Where did u get the $0.64 price of ripple, almost 6 hours ago? Which site/charts showed tht price? Cause i can see it around aprox $1.00. If u cld help where u got tht frm?

      Reply
    • Dan says:
      7 years ago

      Where did u get the $0.64 price of ripple, almost 6 hours ago? Which site/charts showed tht price? Cause i can see it around aprox $1.00. If u cld help where u got tht frm?

      Reply
  2. Jason says:
    7 years ago

    Why does this matter? It’s Bitcoin that is falling and dragging all those down with her. Once Bitcoin recovers or moves over XRP will rise

    Reply
  3. cryptohippy says:
    7 years ago

    Once shitcoin disappears up its own outdated asshole all wl be well ?

    Reply
    • gruglet says:
      7 years ago

      Bitcoin was groovy for buying “products” on the dark web back in 2011 ✌but now its just overhyped, overpriced and outdated. Time for the new generation to move in. If xrp can’t generate sufficient traction with its actual useage then the crypto world will be proven to be a purely speculative market with no basis in actual reality.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 7

  1. Fghjj says:
    7 years ago

    Down to $0.64

    Reply
    • cryptohippy says:
      7 years ago

      Btc down $1000 to $9200 at the same time, but lets ignore that eh….

      Reply
    • Dan says:
      7 years ago

      Where did u get the $0.64 price of ripple, almost 6 hours ago? Which site/charts showed tht price? Cause i can see it around aprox $1.00. If u cld help where u got tht frm?

      Reply
    • Dan says:
      7 years ago

      Where did u get the $0.64 price of ripple, almost 6 hours ago? Which site/charts showed tht price? Cause i can see it around aprox $1.00. If u cld help where u got tht frm?

      Reply
  2. Jason says:
    7 years ago

    Why does this matter? It’s Bitcoin that is falling and dragging all those down with her. Once Bitcoin recovers or moves over XRP will rise

    Reply
  3. cryptohippy says:
    7 years ago

    Once shitcoin disappears up its own outdated asshole all wl be well ?

    Reply
    • gruglet says:
      7 years ago

      Bitcoin was groovy for buying “products” on the dark web back in 2011 ✌but now its just overhyped, overpriced and outdated. Time for the new generation to move in. If xrp can’t generate sufficient traction with its actual useage then the crypto world will be proven to be a purely speculative market with no basis in actual reality.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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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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