{"id":394030,"date":"2019-08-23T04:08:17","date_gmt":"2019-08-23T04:08:17","guid":{"rendered":"https:\/\/wncen.com\/?p=394030"},"modified":"2024-06-11T13:14:10","modified_gmt":"2024-06-11T13:14:10","slug":"ripple-price-xrp-facing-resistance-fresh-decline","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-xrp-facing-resistance-fresh-decline\/","title":{"rendered":"Ripple Price (XRP) Facing Uphill Task: Fresh Decline Likely"},"content":{"rendered":"
Ripple price is trading near a major resistance at $0.2750 against the US Dollar, similar to bitcoin<\/a>. Therefore, XRP remains at a risk of more downsides below $0.2620 in the near term.<\/em><\/p>\n Yesterday, we saw a major decline in XRP<\/a> price below the $0.2800 and $0.2700 support levels against the US Dollar. Moreover, the price settled below $0.2700 and the 100 hourly simple moving average. Finally, the price broke the $0.2620 support and traded as low as $0.2581. Recently, ripple started an upside correction and traded above the $0.2620 and $0.2650 resistance levels.<\/p>\n Additionally, the price climbed above the 23.6% Fib retracement level of the last key decline from the $0.2919 high to $0.2581 low. More importantly, yesterday\u2019s followed key declining channel with resistance near $0.2670 was breached on the hourly chart of the XRP\/USD pair. The pair climbed above the $0.2700 level, but it faced a strong resistance near the $0.2750 level.<\/p>\n The 50% Fib retracement level of the last key decline from the $0.2919 high to $0.2581 low acted as a major resistance. Moreover, it seems like the 100 hourly simple moving average is preventing an upside break above $0.2750. If there is a successful close above $0.2750 and the 100 hourly SMA, the price could continue to rise in the coming sessions.<\/p>\n Conversely, if the bulls continue to struggle near $0.2750, the price might start a fresh decline. An immediate support is near the $0.2650 level. A downside break below the $0.2650 level might set the pace for more losses towards the $0.2600 and $0.2580 levels. Any further downsides could push the price towards the $0.2500 support level in the near term.<\/p>\nRipple Price Analysis<\/h2>\n