{"id":377249,"date":"2019-04-05T05:00:18","date_gmt":"2019-04-05T05:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=377249"},"modified":"2024-06-11T13:14:53","modified_gmt":"2024-06-11T13:14:53","slug":"ripple-xrp-price-analysis-is-this-the-correction","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-price-analysis-is-this-the-correction\/","title":{"rendered":"Ripple (XRP) Price Analysis: Is This \u2018THE’ Correction?"},"content":{"rendered":"
Ripple price started a significant downside correction against the US Dollar and bitcoin<\/a>. XRP could revisit the $0.3200 support, where buyers are likely to take a stand.<\/em><\/p>\n After a solid uptrend above $0.3600, ripple price faced sellers near the $0.3740 and $0.3750 levels against the US Dollar. The XRP\/USD pair started a major downside correction and traded below the $0.3600 and $0.3500 support levels. There was even a close below the $0.3400 support area. Recently, there was a short term rebound<\/a>, but the price failed to surpass the $0.3480 resistance. Besides, the price failed near the 50% Fib retracement level of the drop from the $0.3748 high to $0.3280 low.<\/p>\n As a result, there was a fresh decline below the $0.3350 level. The price even broke the $0.3280 low and traded to a new low near the $0.3258 level. Recently, the price recovered above the $0.3300 level. There was also a break above the 23.6% Fib retracement level of the recent decline from the $0.3486 high to $0.3258 low. However, there are many hurdles for buyers on the upside near $0.3370 and $0.3380 levels. Besides, there is a bearish continuation pattern formed with resistance near $0.3370 on the hourly chart of the XRP\/USD pair.<\/p>\n The 100 hourly simple moving average is also near the $0.3365 level. Finally, the 50% Fib retracement level of the recent decline from the $0.3486 high to $0.3258 low is at $0.3372. Therefore, if there is an upside correction, the price is likely to face a strong selling interest near $0.3370 and $0.3380.<\/p>\n <\/p>\nRipple Price Analysis<\/h2>\n