{"id":415311,"date":"2020-02-20T04:28:30","date_gmt":"2020-02-20T04:28:30","guid":{"rendered":"https:\/\/wncen.com\/?p=415311"},"modified":"2024-06-11T13:42:13","modified_gmt":"2024-06-11T13:42:13","slug":"ripple-xrp-showing-signs-of-weakness-but-0-25-holds-the-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-showing-signs-of-weakness-but-0-25-holds-the-key\/","title":{"rendered":"Ripple (XRP) Showing Signs of Weakness But $0.25 Holds The Key"},"content":{"rendered":"
Ripple failed to clear the key $0.3080 resistance and declined sharply against the US Dollar. XRP price is down 5%, but there are many key supports on the downside.<\/em><\/p>\n
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Ripple price started a strong decline after it was rejected near the $0.3080 area against the US dollar.<\/li>\n
The price is down more than 5% and it is approaching the $0.2680 support area.<\/li>\n
There was a break below a key ascending channel with support near $0.2920 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n
The price is likely to find a strong buying interest near $0.2680 or $0.2500.<\/li>\n<\/ul>\n
Ripple Price Approaching Key Supports<\/h2>\n
Yesterday, we saw a decent recovery wave in ripple above $0.2800 resistance. XRP price even climbed above the $0.2950 resistance and the 100 hourly simple moving average.<\/p>\n
Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $0.3470 high to $0.2675 swing low. However, the upward move was capped by the key $0.3070 and $0.3080 resistance levels (as discussed yesterday<\/a>).<\/p>\n