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Breaking News: XRP Potential: Four Q1 2026 Triggers That Might Propel Price Beyond $8
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Breaking News: XRP Potential: Four Q1 2026 Triggers That Might Propel Price Beyond $8

Ripple (XRP) Nosedives Below Key Support: Here Are Key Turning Points

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:19 pm
2 mins read
Ripple (XRP)

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Ripple declined sharply below the $0.2000 support zone against the US Dollar. XRP price is currently correcting higher, but upsides are likely to remain capped near $0.1950 or the 100 SMA (H4).

  • Ripple price is down more than 5% and it broke a crucial support zone near $0.2000 against the US dollar.
  • The price traded as low as $0.1831 and it is currently correcting higher above $0.1850.
  • There was a break below a major declining channel with support at $0.1970 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair remains at a risk of more losses as long as it is below $0.1950 and $0.2000.

Ripple Price Turns Bearish?

After many attempts to break the $0.2050 resistance, ripple started a major decline. XRP price broke many important supports near the $0.2000 level to move into a bearish zone.

The decline was such that the price weakened more than 5% and settled well below the 100 simple moving average (4-hours). More importantly, there was a break below a major declining channel with support at $0.1970 on the 4-hours chart of the XRP/USD pair.

Ripple Price
Ripple Price

A new weekly low is formed near the $0.1831 level and the price is currently correcting higher. It broke the $0.1850 and $0.1860 levels. Ripple is now trading above the 23.6% Fib retracement level of the recent decline from the $0.2056 high to $0.1831 low.

On the upside, an initial resistance is near the $0.1920 area (the recent breakdown zone). The next key resistance is near the $0.1945 since it is close to the 50% Fib retracement level of the recent decline from the $0.2056 high to $0.1831 low.

The main resistance is now near the $0.2000 level and the 100 SMA. A successful close above the $0.2000 level is needed to move into a positive zone.

More Losses in XRP?

Once the current correction wave is complete, ripple price is likely to resume its decline below the $0.1850 level. An initial support is near the $0.1830 swing low.

If there is a downside break below the recent low, the price is likely to accelerate lower towards the $0.1800 and $0.1780 support levels in the near term.

Technical Indicators

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

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently in the oversold zone below 30.

Major Support Levels – $0.1850, $0.1830 and $0.1800.

Major Resistance Levels – $0.1920, $0.1945 and $0.2000.

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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.

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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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Reason to trust

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Created by industry experts and meticulously reviewed
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