{"id":418666,"date":"2020-03-20T04:08:43","date_gmt":"2020-03-20T04:08:43","guid":{"rendered":"https:\/\/wncen.com\/?p=418666"},"modified":"2024-06-11T13:46:35","modified_gmt":"2024-06-11T13:46:35","slug":"ripple-xrp-lack-of-strength-false-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-lack-of-strength-false-rally\/","title":{"rendered":"Ripple (XRP) Lack of Strength Suggests False Rally or Just Correction"},"content":{"rendered":"<p><em>Ripple is up more than 10% and it broke the $0.1550 resistance region against the US Dollar. However, XRP price is lacking strength and pointing a fresh decrease in the near term.<\/em><\/p>\n<ul>\n<li>Ripple price is up more than 10% and it tested the $0.1720 resistance against the US dollar.<\/li>\n<li>It is now showing a few bearish signs and trading below the $0.1650 level.<\/li>\n<li>There is a key bullish trend line forming with support near $0.1570 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The price is likely to revisit the $0.1580 and $0.1550 support levels in the near term.<\/li>\n<\/ul>\n<h2>Ripple Price is Correcting Gains<\/h2>\n<p>In the past three sessions, ripple <a href=\"https:\/\/wncen.com\/2020\/03\/19\/ripple-xrp-is-consolidating-and-could-start-rising\/\" target=\"_blank\" rel=\"noopener noreferrer \">gained strength<\/a> above the $0.1400 and $0.1450 resistance levels. XRP price surged above the $0.1500 resistance level to move into a short term positive zone.<\/p>\n<p>Besides, there was a sharp move above the $0.1650 resistance and the price settled above the 100 hourly simple moving average. A new weekly high was formed near the $0.1720 resistance area.<\/p>\n<p>Ripple is currently correcting lower and trading below the $0.1650 level. There was a break below the 23.6% Fib retracement level of the recent rise from the $0.1407 low to $0.1734 high. On the downside, an initial support is near the $0.1600 level.<\/p>\n<p>The first <a href=\"https:\/\/wncen.com\/2020\/03\/18\/ripple-xrp-is-recovering-and-primed-test-017\/\" target=\"_blank\" rel=\"noopener noreferrer \">major support<\/a> is near the $0.1580 level. There is also a key bullish trend line forming with support near $0.1570 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a> of the XRP\/USD pair.<\/p>\n<figure id=\"attachment_418668\" aria-describedby=\"caption-attachment-418668\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-418668\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?resize=1828%2C868\" alt=\"Ripple Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ripple-XRP-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-418668\" class=\"wp-caption-text\">Ripple Price<\/figcaption><\/figure>\n<p>The trend line support is close to the 50% Fib retracement level of the recent rise from the $0.1407 low to $0.1734 high. Therefore, dips towards the $0.1600 and $0.1580 support levels are likely to find a decent buying interest.<\/p>\n<h2>Weak Price Action<\/h2>\n<p>Despite the recent rally, the current price is weak and suggests ripple might fail to start a fresh increase above the $0.1700 level. As stated, the main support area is now near the $0.1580 level.<\/p>\n<p>If the bulls fail to keep the price above the $0.1580 and $0.1550 levels, there is a risk of a larger decline in the coming sessions. The next major support is near the $0.1450 level. Conversely, the bulls are likely to lead the price above the $0.1720 and $0.1780 levels.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is slowly moving back into the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently correcting lower towards the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.1600, $0.1580 and $0.1570.<\/p>\n<p>Major Resistance Levels \u2013 $0.1650, $0.1700 and $0.1720.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple is up more than 10% and it broke the $0.1550 resistance region against the US Dollar. However, XRP price is lacking strength and pointing a fresh decrease in the near term. Ripple price is up more than 10% and it tested the $0.1720 resistance against the US dollar. It is now showing a few bearish signs and trading below the $0.1650 level. There is a key bullish trend line forming with support near $0.1570 on the hourly chart of the XRP\/USD pair (data source from Kraken). The price is likely to revisit the $0.1580 and $0.1550 support levels in the near term. Ripple Price is Correcting Gains In the past three sessions, ripple gained strength above the $0.1400 and $0.1450 resistance levels. XRP price surged above the $0.1500 resistance level to move into a short term positive zone. Besides, there was a sharp move above the $0.1650 resistance and the price settled above the 100 hourly simple moving average. A new weekly high was formed near the $0.1720 resistance area. Ripple is currently correcting lower and trading below the $0.1650 level. There was a break below the 23.6% Fib retracement level of the recent rise from the $0.1407 low to $0.1734 high. On the downside, an initial support is near the $0.1600 level. The first major support is near the $0.1580 level. There is also a key bullish trend line forming with support near $0.1570 on the hourly chart of the XRP\/USD pair. The trend line support is close to the 50% Fib retracement level of the recent rise from the $0.1407 low to $0.1734 high. Therefore, dips towards the $0.1600 and $0.1580 support levels are likely to find a decent buying interest. Weak Price Action Despite the recent rally, the current price is weak and suggests ripple might fail to start a fresh increase above the $0.1700 level. As stated, the main support area is now near the $0.1580 level. If the bulls fail to keep the price above the $0.1580 and $0.1550 levels, there is a risk of a larger decline in the coming sessions. The next major support is near the $0.1450 level. Conversely, the bulls are likely to lead the price above the $0.1720 and $0.1780 levels. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is slowly moving back into the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently correcting lower towards the 50 level. Major Support Levels \u2013 $0.1600, $0.1580 and $0.1570. Major Resistance Levels \u2013 $0.1650, $0.1700 and $0.1720.<\/p>\n","protected":false},"author":67,"featured_media":418669,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[3680,4531],"class_list":["post-418666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple (XRP) Lack of Strength Suggests False Rally or Just Correction<\/title>\n<meta name=\"description\" content=\"Ripple is up more than 10% and it broke the $0.1550 resistance. 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