Ripple price extended losses below the key $0.3225-0.3240 support against the US dollar. XRP price tested the $0.3120 support and it is currently recovering towards the $0.3240 resistance.

  • There was a sharp decline below the $0.3240 and $0.3225 support levels.
  • A major bearish trend line is formed with resistance near $0.3230 on the 30-minute chart.
  • XRP price is likely to struggle near the previous support at $0.3240 (now resistance).

Ripple Price

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Ripple Price Analysis (XRP to USD)

Yesterday, we saw a short-term rebound in ripple above the $0.3300 resistance area. However, XRP price failed to surpass the $0.3350-0.3360 resistance area, which resulted in a fresh downward move below the $0.3300 level.

Ripple Price Analysis XRP Chart

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Looking at the 30-minute chart of XRP/USD, the pair traded as high as $0.3353 and later declined sharply below the $0.3300 and $0.3260 support levels. More importantly, the price broke the key support near the $0.3240 and $0.3225 levels.


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Finally, there was a close below $0.3210 and the 25 simple moving average (30-minute chart). The price extended losses and traded towards the $0.3120 support.

A swing low as formed at $0.3123 and the price recently corrected above $0.3160. There was a break above the 23.6% Fib retracement level of the recent drop from the $0.3353 high to $0.3123 low. At the moment, the price is testing the $0.3200 pivot level and the 25 simple moving average (30-minute chart).

On the upside, there is a strong resistance formed near the $0.3225 and $0.3240 levels (the previous support area). Besides, the 50% Fib retracement level of the recent drop from the $0.3353 high to $0.3123 low is at $0.3238.

Finally, there is a major bearish trend line formed with resistance near $0.3230 on the same chart. Therefore, it won’t be easy for bulls to surpass the $0.3225 and $0.3240 resistance levels.

If they succeed, there could be a strong upward move towards the $0.3350 resistance area in the near term. Alternatively, if bulls fail to push ripple above the $0.3240 resistance, the price might decline once again. An initial support is at $0.3120, below which XRP could test $0.3100 or $0.3065.

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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