{"id":393777,"date":"2019-08-21T05:00:34","date_gmt":"2019-08-21T05:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=393777"},"modified":"2024-06-11T13:13:59","modified_gmt":"2024-06-11T13:13:59","slug":"ripple-price-xrp-breaks-key-support-more-downsides-likely","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-xrp-breaks-key-support-more-downsides-likely\/","title":{"rendered":"Ripple Price (XRP) Breaks Key Support: More Downsides Likely"},"content":{"rendered":"
Ripple price is showing bearish signs below key supports against the US Dollar and bitcoin<\/a>. XRP is currently at a risk of more downsides below the $0.2600 support.<\/em><\/p>\n Recently, XRP price climbed above the $0.2800 and $0.2850 resistance levels against the US Dollar. However, the XRP\/USD pair struggled to break the $0.2900 and $0.2920 resistance levels. A swing high was formed near $0.2918 and the price started a fresh decline. There was a break below the $0.2800 support and the 100 hourly simple moving average. Moreover, bitcoin<\/a> and Ethereum<\/a> are also struggling to hold key supports.<\/p>\n Ripple price is currently under pressure and it recently broke the $0.2750 support. Moreover, this week\u2019s followed bullish trend line with support near $0.2740 was breached on the hourly chart of the XRP\/USD pair. The pair declined below the 50% Fib retracement level of the upward move from the $0.2484 low to $0.2918 high. It has opened the doors for more losses below $0.2700.<\/p>\n An immediate support is near the $0.2650 level. It represents the 61.8% Fib retracement level of the upward move from the $0.2484 low to $0.2918 high. If there are more downsides, the price could decline towards the $0.2600 support. Any further losses is likely to lead the price towards the next important support area near the $0.2500 level.<\/p>\n On the upside, the previous support near the $0.2700 level is likely to act as a resistance. Additionally, the 100 hourly simple moving average is\u00a0 near the $0.2750 level to prevent an upward move. Therefore, to start a fresh increase, the price must climb back above $0.2750 and the 100 hourly SMA.<\/p>\nRipple Price Analysis<\/h2>\n