{"id":389501,"date":"2019-07-11T04:08:03","date_gmt":"2019-07-11T04:08:03","guid":{"rendered":"https:\/\/wncen.com\/?p=389501"},"modified":"2024-06-11T13:45:18","modified_gmt":"2024-06-11T13:45:18","slug":"ripple-price-xrp-down-10-primed-for-more-losses","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-xrp-down-10-primed-for-more-losses\/","title":{"rendered":"Ripple Price (XRP) Down 10%: Primed For More Losses"},"content":{"rendered":"
Ripple price declined sharply below $0.3750 against the US Dollar and down around 10% similar to bitcoin. XRP price may slide further if it fails to stay above $0.3450.<\/em><\/p>\n Bitcoin price<\/a> started a major decline from well above $13,000 and traded below the $12,000 support. It sparked bearish moves in ripple price below the $0.4000 support area. As a result, there was a sharp decline in XRP\/USD below the $0.3850 and $0.3750 support levels. Moreover, the price broke the $0.3600 support area and settled well below the 100 hourly simple moving average.<\/p>\n Finally, there was a break below the $0.3500 support and the price traded as low as $0.3461. At the moment, the price is consolidating losses above the $0.3500 level. It broke the 23.6% Fib retracement level of the recent decline from the $0.3968 high to $0.3461 low. Moreover, there is a contracting triangle forming with resistance at $0.3620 on the hourly chart of the XRP\/USD pair.<\/p>\n If there is a downside break below the $0.3550 support, the price could resume its slide<\/a>. In the mentioned case, the price may even break the $0.3500 and $0.3450 support levels. The next key support is near the $0.3400 level. Conversely, if there is an upside break, the price could recover towards the $0.3700 level. However, the price is likely to face resistance near $0.3700 or $0.3720.<\/p>\n The 50% Fib retracement level of the recent decline from the $0.3968 high to $0.3461 low is also near the $0.3710 level. Moreover, there is a new connecting bearish trend line forming with resistance near $0.3850 on the same chart. As long as the price is below the $0.3700 and $0.3800 levels, it remains at a risk of more losses.<\/p>\nRipple Price Analysis<\/h2>\n