{"id":373427,"date":"2019-03-05T05:00:52","date_gmt":"2019-03-05T05:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=373427"},"modified":"2024-06-11T13:38:26","modified_gmt":"2024-06-11T13:38:26","slug":"ripple-price-analysis-xrp-could-tumble-below-0-3000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-analysis-xrp-could-tumble-below-0-3000\/","title":{"rendered":"Ripple Price Analysis: XRP Could Tumble Below $0.3000"},"content":{"rendered":"
Ripple price declined below key supports against the US Dollar and bitcoin. XRP\/USD could decline sharply below $0.3000 and $0.2980 to test the $0.2850 support level.<\/em><\/p>\n In the past few days, there was a steady decline<\/a> in ripple price from the $0.3200 swing high against the US Dollar. The XRP\/USD pair traded below the $0.3150 and $0.3100 support levels to enter a bearish zone. There was even a close below the $0.3080 support and the 100 hourly simple moving average. Recently, the price even broke the $0.3050 and $0.3040 support levels. Finally, it spiked below the $0.3000 support and a new monthly low was formed at $0.2972.<\/p>\n Later, the price corrected higher and traded above the $0.3000 level. It surpassed the 23.6% Fib retracement level of the recent drop from the $0.3129 high to $0.2972 low. However, the previous support near the $0.3050 level acted as a strong resistance. Besides, the 50% Fib retracement level of the recent drop from the $0.3129 high to $0.2972 low acted as a resistance. More importantly, there is a major bearish trend line formed with resistance near the $0.3040 level on the hourly chart of the XRP\/USD pair.<\/p>\n The pair declined again and it is currently trading below the $0.3020 level. It seems like there is a risk of a sharp decline below the $0.3000 and $0.2970 levels. The next key support is near $0.2850, where buyers might appear. On the upside, the price may continue to face sellers near $0.3040 and $0.3050. To start a recovery<\/a>, the price must break $0.3050 and then $0.3080 in the near term.<\/p>\n <\/p>\n Looking at the chart<\/a>, ripple price is following a bearish structure from well above $0.3200. If sellers gain pace below the $0.3000 support, there could be a nasty drop towards $0.2850. The overall price action is suggesting more losses in bitcoin<\/a>, Ethereum<\/a>, XRP and other cryptocurrencies<\/a> in the coming sessions.<\/p>\n Hourly MACD \u2013 The MACD for XRP\/USD is about to move into the bearish zone, suggesting more losses ahead.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently near the 40 level, with a minor bullish angle.<\/p>\n Major Support Levels \u2013 $0.3000, $0.2975 and $0.2850.<\/p>\n Major Resistance Levels \u2013 $0.3040, $0.3050 and $0.3080.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple price is following a declining path and it broke the $0.3100 support against the US dollar. The price remains at a risk of a sharp decline below $0.3000 and $0.2980 in the near term. There is a major bearish trend line formed with resistance near the $0.3040 level on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair remains in a downtrend and sellers remain in action below $0.3040 and $0.3080. Ripple price declined below key supports against the US Dollar and bitcoin. XRP\/USD could decline sharply below $0.3000 and $0.2980 to test the $0.2850 support level. Ripple Price Analysis In the past few days, there was a steady decline in ripple price from the $0.3200 swing high against the US Dollar. The XRP\/USD pair traded below the $0.3150 and $0.3100 support levels to enter a bearish zone. There was even a close below the $0.3080 support and the 100 hourly simple moving average. Recently, the price even broke the $0.3050 and $0.3040 support levels. Finally, it spiked below the $0.3000 support and a new monthly low was formed at $0.2972. Later, the price corrected higher and traded above the $0.3000 level. It surpassed the 23.6% Fib retracement level of the recent drop from the $0.3129 high to $0.2972 low. However, the previous support near the $0.3050 level acted as a strong resistance. Besides, the 50% Fib retracement level of the recent drop from the $0.3129 high to $0.2972 low acted as a resistance. More importantly, there is a major bearish trend line formed with resistance near the $0.3040 level on the hourly chart of the XRP\/USD pair. The pair declined again and it is currently trading below the $0.3020 level. It seems like there is a risk of a sharp decline below the $0.3000 and $0.2970 levels. The next key support is near $0.2850, where buyers might appear. On the upside, the price may continue to face sellers near $0.3040 and $0.3050. To start a recovery, the price must break $0.3050 and then $0.3080 in the near term. Looking at the chart, ripple price is following a bearish structure from well above $0.3200. If sellers gain pace below the $0.3000 support, there could be a nasty drop towards $0.2850. The overall price action is suggesting more losses in bitcoin, Ethereum, XRP and other cryptocurrencies in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is about to move into the bearish zone, suggesting more losses ahead. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently near the 40 level, with a minor bullish angle. Major Support Levels \u2013 $0.3000, $0.2975 and $0.2850. Major Resistance Levels \u2013 $0.3040, $0.3050 and $0.3080.<\/p>\n","protected":false},"author":67,"featured_media":167743,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[3680,4531],"class_list":["post-373427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nRipple Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n