{"id":369562,"date":"2019-01-29T05:00:57","date_gmt":"2019-01-29T05:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=369562"},"modified":"2024-06-11T13:33:13","modified_gmt":"2024-06-11T13:33:13","slug":"ripple-price-analysis-xrps-previous-support-now-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-analysis-xrps-previous-support-now-resistance\/","title":{"rendered":"Ripple Price Analysis: XRP\u2019s Previous Support Now Resistance"},"content":{"rendered":"
Ripple price declined sharply and gained bearish momentum against the US Dollar and Bitcoin. XRP\/USD is currently facing a solid resistance near previous supports at $0.2950.<\/em><\/p>\n Yesterday, we saw the start of a major decline<\/a> below the $0.3100 support in ripple price against the US Dollar. The XRP\/USD pair even failed to stay above the $0.3000 support and extended its decline. It broke the $0.2950 and $0.2920 support levels. The drop was sharp and sellers pushed the price below $0.2800. A low was formed at $0.2777 and the price placed itself well below the 100 hourly simple moving average. Later, there was a sharp bounce and recovery above the $0.2850 level.<\/p>\n The price traded above the 50% Fib retracement level of the recent drop from the $0.3071 high to $0.2777 low. However, the upside move was capped by the previous support near $0.2950. Moreover, the 61.8% Fib retracement level of the recent drop from the $0.3071 high to $0.2777 low acted as a resistance. More importantly, yesterday\u2019s highlighted important bearish trend line is in place with resistance at $0.2980 on the hourly chart of the XRP\/USD pair. Therefore, as long as the price is below the $0.2950 and $0.3000 levels, it remains in a downtrend<\/a>. On the downside, an initial support is at $0.2880, followed by $0.2840.<\/p>\n <\/p>\nRipple Price Analysis<\/h2>\n