{"id":383559,"date":"2019-05-24T04:08:42","date_gmt":"2019-05-24T04:08:42","guid":{"rendered":"https:\/\/wncen.com\/?p=383559"},"modified":"2024-06-11T13:40:17","modified_gmt":"2024-06-11T13:40:17","slug":"ripple-xrp-price-at-risk-of-more-losses","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-price-at-risk-of-more-losses\/","title":{"rendered":"Ripple (XRP) Price At Risk Of More Losses Below $0.3600"},"content":{"rendered":"
Ripple price is currently under pressure against the US Dollar and bitcoin<\/a>. XRP remains at a risk of more losses below the $0.3610 support unless it settles above $0.3880.<\/em><\/p>\n After a couple of rejections near the $0.4080 barrier, ripple price started a major decline against the US Dollar. The XRP\/USD pair declined below the $0.4000 and $0.3840 support levels. It even settled below $0.3840 and the 100 hourly simple moving average. Finally, there was a break below the $0.3750 support and the price tested the key $0.3610 support area. A new weekly low was formed near $0.3612 and the price is currently correcting higher.<\/p>\n It climbed above the $0.3750 resistance and the 23.6% Fib retracement level of the recent drop from the $0.4138 high to $0.3612 low. However, the price is facing a strong resistance<\/a> near the $0.3840 and $0.3850 levels. Besides, there is a key bearish trend line forming with resistance near the $0.3840 level on the hourly chart of the XRP\/USD pair. Above the trend line, the 50% Fib retracement level of the recent drop from the $0.4138 high to $0.3612 low is near $0.3875. Finally, the 100 hourly simple moving average is close to the $0.3900 level to act as a strong resistance.<\/p>\n Therefore, a successful close above the trend line and $0.3880 is must for more gains in the near term. If the bulls gain momentum above $0.3880, the price is likely to test the $0.4000 resistance. The next major resistance is near the $0.4080 level. On the other hand, if the price fails to climb above $0.3880, it could resume its decline.<\/p>\nRipple Price Analysis<\/h2>\n