• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
Ripple (XRP)

Ripple (XRP) Signaling Bearish Breakdown But Can Bears Gain Control?

Aayush Jindal by Aayush Jindal
3 years ago
in Ripple, Technical analysis
Reading Time: 2 mins read

Ripple is showing a few bearish signs below the $0.1980 resistance against the US Dollar. XRP price could start a strong decline if it breaks the $0.1900 support area.

  • Ripple price is still struggling to gain momentum above the $0.2000 resistance against the US dollar.
  • The bears were able to push the price below the key 100 hourly simple moving average.
  • There was a break below a major contracting triangle with support near $0.1980 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a major decline if it breaks the $0.1900 support area.

Ripple Price Showing Bearish Signs

After forming a top near the $0.2050 level, ripple started trading in a contracting range. XRP price traded below a couple of important supports near $0.2000 to move into a short term bearish zone.

Recently, there was a clear break below the $0.1980 level and the key 100 hourly simple moving average. The bears were able to clear a major contracting triangle with support near $0.1980 on the hourly chart of the XRP/USD pair.

Ripple Price
Ripple Price

The pair spiked below the $0.1950 level and traded as low as $0.1921. Ripple is currently correcting losses and trading above the $0.1940 level.

It is testing the 23.6% Fib retracement level of the recent decline from the $0.2008 high to $0.1921 low. On the upside, there is a major resistance forming near the $0.1965 level and the 100 hourly simple moving average.

The 50% Fib retracement level of the recent decline from the $0.2008 high to $0.1921 low is also near the $0.1965 level to act as a major resistance. To move back into a positive zone, the price must settle above $0.1980 and the 100 hourly SMA.

The main hurdles are still near $0.2000 and $0.2025, above which the bulls are likely to aim a larger upward move in the coming sessions.

Downside Break?

On the downside, an initial support is near the $0.1920 level. If ripple fails to recover above the $0.1965 and $0.1980 resistance levels, it could dive below $0.1920.

The main support is near the $0.1900 area, below which the bears are likely to take control. The next stop for them could be the $0.1840 and $0.1800 levels in the near term.

Technical Indicators

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

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

Major Support Levels – $0.1920, $0.1900 and $0.1880.

Major Resistance Levels – $0.1965, $0.1980 and $0.2000.

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Tags: RipplexrpXRPUSD
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Ripple

Former SEC Chairman Deserves Appreciation From Ripple, Alderoty States

21 hours ago
Bitcoin

Bitcoin Price Defies Gravity But Here Is Why It Could Decline Again

1 day ago
XRP Ripple XRPUSDT

“XRP Very Important,” Top Analyst Predicts Which Tokens Could Profit From The SEC War

2 days ago
Ripple XRP coin

Less Than 100 XRP Needed To Become A Millionaire? New Research Suggests

2 days ago
Ethereum

Ethereum Price Consolidates Below $1,900: What Could Trigger A Sharp Decline?

2 days ago
Bitcoin

Bitcoin Price Could Restart Increase If It Clears This Resistance

2 days ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    1 week ago
  • Willing to buy new crypto: Here are the best 10...

    1 week ago
  • Best Crypto Meme Coin Presales in 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bullish Revival: Solana (SOL) Gains Momentum, but InQubeta...

    14 mins ago
  • Ethereum Classic (ETC) And Bitcoin Cash (BCH) Could Moon...

    1 hour ago
  • Decentraland (MANA) Records Unimpressive Performances As...

    4 hours ago
  • Litecoin Set For 5X Rally, But This P2E Token DigiToads Can...

    19 hours ago
  • Elon Musk Says AI Is The Most Important Technology Of Our...

    20 hours ago

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.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.