Ripple price was unable to stay above the $0.4100 and $0.4000 support levels. XRP is likely to extend losses in the short term towards $0.3640 before it could bounce back above $0.4100.

  • The price recently traded below the key $0.4000 and $0.3980 support levels.
  • XRP broke a major bullish trend line with support at $0.4000 on the 30-minute chart.
  • Ripple price tested the $0.3820 support level and it is currently correcting higher.

Ripple Price

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Ripple Price Analysis (XRP to USD)

This week, ripple price started a steady rise from the $0.3800 support area. XRP/USD traded above the $0.4000 resistance level to move into a positive zone. However, the price struggled to gain momentum above $0.4100 and failed to stay above $0.4080.

Ripple Price Analysis XRP Chart

Click to Enlarge Chart

Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.4127 recently before starting a downward move. It broke the key $0.4000 support level and settled below the 25 simple moving average (30-minute chart).

Moreover, the price traded below a major bullish trend line with support at $0.4000 on the same chart. It opened the doors for more losses below $0.3900 and the price traded close to the $0.3800 support.

A swing low was formed at $0.3812 and the price is currently correcting above the 23.6% Fib retracement level of the recent decline from the $0.4127 high to $0.3812 low.

On the upside, there are many hurdles near the $0.3980 and $0.4000 levels (the recent support levels). Besides, the 25 simple moving average (30-minute chart) is also positioned near the $0.4000 level to act as a strong resistance.

More importantly, the 50% Fib retracement level of the recent decline from the $0.4127 high to $0.3812 low is just below $0.4000. Therefore, the price is likely to struggle near the $0.4000 resistance area.

If there is an upside break above $0.4000, ripple price could start a fresh increase towards $0.4080 or even $0.4100. The next key resistance is at $0.4125, followed by $0.4150.

Conversely, if ripple price fails to climb back above $0.4000, there could be a downside extension below the $0.3800 support level. The next main support is near $0.3640, where the bulls may take a stand.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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