{"id":393153,"date":"2019-08-15T04:08:22","date_gmt":"2019-08-15T04:08:22","guid":{"rendered":"https:\/\/wncen.com\/?p=393153"},"modified":"2024-06-11T13:24:20","modified_gmt":"2024-06-11T13:24:20","slug":"ripple-price-xrp-decline-could-accelerate-btc-and-eth-weakens-further","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-xrp-decline-could-accelerate-btc-and-eth-weakens-further\/","title":{"rendered":"Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further"},"content":{"rendered":"<ul>\n<li>Ripple price declined sharply after it broke the key $0.2900 support area against the US dollar.<\/li>\n<li>The price is down more than 10% and even tumbled to test the $0.2350 level.<\/li>\n<li>A short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair is likely to accelerate its decline once it breaks the $0.2580 and $0.2500 support levels.<\/li>\n<\/ul>\n<p><em>Ripple price is down and out against the US Dollar and <a href=\"https:\/\/wncen.com\/2019\/08\/14\/crypto-market-cap-bitcoin-extending-losses-bch-litecoin-ada-trx-analysis\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. XRP price is now trading in a crucial downtrend, with chances of more downsides towards the $0.2400 level.<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<p>Yesterday, we saw bearish moves in <a href=\"https:\/\/wncen.com\/2019\/08\/14\/bitcoin-btc-price-hits-weekly-bearish-target-10k-could-be-next\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>, but ripple price remained stable above $0.2900 against the US Dollar. However, the XRP\/USD pair failed to hold the $0.2920 and $0.2900 support levels. As a result, there was a sharp decline below the $0.2800 and $0.2720 support levels. The price declined more than 15% in the past few sessions and spiked sharply below $0.2500. A new swing low was formed near $0.2350 and the price recently corrected higher.<\/p>\n<p>It broke the $0.2500 level plus the 50% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low. However, the price is facing a lot of hurdles on the upside near the $0.2700 level. At the outset, there is a short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the XRP\/USD pair. Above the triangle resistance, the next resistance is near the $0.2740 level.<\/p>\n<p>Moreover, the 61.8% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low is near the $0.2730 level. If there is a break above the $0.2750 resistance, the price could recover towards the $0.2850 and $0.2900 resistance levels (the previous supports).<\/p>\n<p>Conversely, if there is a downside break below the $0.2550 support, the price could accelerate losses. The next support is near the $0.2500 level, below which there is a risk of a sharp drop towards the $0.2350 swing low. If there are more downside, the next stop for the bears could be $0.2200.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-393154\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?resize=1828%2C868\" alt=\"Ripple Price Analysis XRP Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/Ripple-Price-9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, ripple price is clearly trading in a bearish zone below the $0.2750 resistance. The current price action indicates more downsides below the $0.2550 and $0.2500 levels. It would be interesting to see how the bulls react if the price reaches the $0.2400 support area.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is slowly reducing its bearish slope.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is recovering above the 30 level.<\/p>\n<p>Major Support Levels \u2013 $0.2550, $0.2500 and $0.2400.<\/p>\n<p>Major Resistance Levels \u2013 $0.2700, $0.2750 and $0.2850.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple price declined sharply after it broke the key $0.2900 support area against the US dollar. The price is down more than 10% and even tumbled to test the $0.2350 level. A short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair is likely to accelerate its decline once it breaks the $0.2580 and $0.2500 support levels. Ripple price is down and out against the US Dollar and bitcoin. XRP price is now trading in a crucial downtrend, with chances of more downsides towards the $0.2400 level. Ripple Price Analysis Yesterday, we saw bearish moves in bitcoin, but ripple price remained stable above $0.2900 against the US Dollar. However, the XRP\/USD pair failed to hold the $0.2920 and $0.2900 support levels. As a result, there was a sharp decline below the $0.2800 and $0.2720 support levels. The price declined more than 15% in the past few sessions and spiked sharply below $0.2500. A new swing low was formed near $0.2350 and the price recently corrected higher. It broke the $0.2500 level plus the 50% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low. However, the price is facing a lot of hurdles on the upside near the $0.2700 level. At the outset, there is a short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the XRP\/USD pair. Above the triangle resistance, the next resistance is near the $0.2740 level. Moreover, the 61.8% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low is near the $0.2730 level. If there is a break above the $0.2750 resistance, the price could recover towards the $0.2850 and $0.2900 resistance levels (the previous supports). Conversely, if there is a downside break below the $0.2550 support, the price could accelerate losses. The next support is near the $0.2500 level, below which there is a risk of a sharp drop towards the $0.2350 swing low. If there are more downside, the next stop for the bears could be $0.2200. Looking at the chart, ripple price is clearly trading in a bearish zone below the $0.2750 resistance. The current price action indicates more downsides below the $0.2550 and $0.2500 levels. It would be interesting to see how the bulls react if the price reaches the $0.2400 support area. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is slowly reducing its bearish slope. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is recovering above the 30 level. Major Support Levels \u2013 $0.2550, $0.2500 and $0.2400. Major Resistance Levels \u2013 $0.2700, $0.2750 and $0.2850.<\/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-393153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further<\/title>\n<meta name=\"description\" content=\"Ripple price is down and out against the US Dollar and bitcoin. 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