{"id":375632,"date":"2019-03-22T05:00:21","date_gmt":"2019-03-22T05:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=375632"},"modified":"2024-06-11T13:13:19","modified_gmt":"2024-06-11T13:13:19","slug":"ripple-price-analysis-xrp-flirts-with-key-resistance-amid-sell-off","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-analysis-xrp-flirts-with-key-resistance-amid-sell-off\/","title":{"rendered":"Ripple Price Analysis: XRP Flirts With Key Resistance Amid Sell-off"},"content":{"rendered":"
Ripple price declined heavily and turned bearish against the US Dollar and bitcoin<\/a>. XRP\/USD may consolidate in the short term and upsides are likely to remain capped near $0.3100 and $0.3120.<\/em><\/p>\n There was another attempt by ripple price to clear the $0.3200 resistance against the US Dollar. The XRP\/USD pair failed to gain momentum, resulting in a sharp bearish reaction. The price started a significant decline and broke the $0.3150 and $0.3140 support levels. The decline was such that the price even broke the key $0.3100 support level and the 100 hourly simple moving average. A new weekly low was formed near the $0.3000 level before the price started an upside correction.<\/p>\n Buyers pushed the price above $0.3050 and the 23.6% Fib retracement level of the last drop from the $0.3199 high to $0.3005 low. There was even a break above the $0.3080 resistance, but the price faced a strong resistance<\/a> near the $0.3100 level. The stated $0.3100 level acted as a support earlier and now it is preventing gains. Besides, the 50% Fib retracement level of the last drop from the $0.3199 high to $0.3005 low is also near the $0.3100 resistance. More importantly, there is a major bearish trend line formed with resistance at $0.3110 on the hourly chart of the XRP\/USD pair.<\/p>\n Therefore, the price is likely to face a strong selling interest near the $0.3100 level. The next key resistance is near the $0.3125 level since it coincides with the 100 hourly SMA. On the downside, an initial support is near the $0.3060, below which the price could revisit the $0.3000 support level.<\/p>\n <\/p>\nRipple Price Analysis<\/h2>\n