{"id":448827,"date":"2020-11-04T07:48:55","date_gmt":"2020-11-04T07:48:55","guid":{"rendered":"https:\/\/wncen.com\/?p=448827"},"modified":"2024-06-11T07:57:45","modified_gmt":"2024-06-11T07:57:45","slug":"ripple-xrp-face-uphill-task-024","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-xrp-face-uphill-task-024\/","title":{"rendered":"Charted: Ripple (XRP) Bulls Face Uphill Task Near $0.24"},"content":{"rendered":"
Ripple started an upside correction from the $0.2280 support against the US Dollar. XRP price could start a strong rally if it clears the $0.2400 resistance zone.<\/em><\/p>\n In the past few days, there was a steady decline in ripple\u2019s XRP price below the $0.2500 support. The price even broke the $0.2400 support zone and settled well below the 100 simple moving average (4-hours).<\/p>\n It even spiked below the $0.2300 support level. A low is formed near the $0.2286 level and the price is currently recovering. Besides, there was a strong increase in bitcoin<\/a> above $13,800 and ETH<\/a> also climbed above $385, but XRP is facing a lot of hurdles.<\/p>\n It seems like the bulls are facing an uphill task near the $0.2400 and $0.2440 levels. A high is formed near $0.2442 and the price is declining. There is also a crucial bearish trend line forming with resistance near $0.2400 on the 4-hours chart of the XRP\/USD pair.<\/p>\n <\/a><\/p>\n An initial support is near the $0.2365 level. It is close to the 50% Fib retracement level of the recent upward move from the $0.2286 low to $0.2442 high.<\/p>\n The first major support is near the $0.2350 level or the 61.8% Fib retracement level of the recent upward move from the $0.2286 low to $0.2442 high. On the upside, the price is clearly facing a huge resistance near $0.2400. To start a strong rally, the price must break the trend line resistance and then gain pace above $0.2440.<\/p>\n If ripple fails to clear the $0.2400 and $0.2440 resistance levels, there is a risk of a bearish breakdown. The first key support is near the $0.2350 level.<\/p>\n The next major support is near the $0.2300 zone and the $0.2286 swing low. A clear break below the $0.2286 low is likely to spark a sharp decline towards $0.2200 or even $0.2120 in the near term.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for XRP\/USD is slowly moving in the bullish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now struggling to settle above the 50 level.<\/p>\n Major Support Levels \u2013 $0.2365, $0.2350 and $0.2300.<\/p>\n Major Resistance Levels \u2013 $0.2400, $0.2440 and $0.2500.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple started an upside correction from the $0.2280 support against the US Dollar. XRP price could start a strong rally if it clears the $0.2400 resistance zone. Ripple is struggling to gain bullish momentum above the $0.2400 resistance against the US dollar. The price is now trading well above $0.2350 and the 100 simple moving average (4-hours). There is a crucial bearish trend line forming with resistance near $0.2400 on the 4-hours chart of the XRP\/USD pair (data source from Kraken). The pair could start a strong rally if it clears the $0.2400 and $0.2440 levels in the near term. Ripple\u2019s XRP Price is Facing Hurdles In the past few days, there was a steady decline in ripple\u2019s XRP price below the $0.2500 support. The price even broke the $0.2400 support zone and settled well below the 100 simple moving average (4-hours). It even spiked below the $0.2300 support level. A low is formed near the $0.2286 level and the price is currently recovering. Besides, there was a strong increase in bitcoin above $13,800 and ETH also climbed above $385, but XRP is facing a lot of hurdles. It seems like the bulls are facing an uphill task near the $0.2400 and $0.2440 levels. A high is formed near $0.2442 and the price is declining. There is also a crucial bearish trend line forming with resistance near $0.2400 on the 4-hours chart of the XRP\/USD pair. Source: XRPUSD on TradingView.com An initial support is near the $0.2365 level. It is close to the 50% Fib retracement level of the recent upward move from the $0.2286 low to $0.2442 high. The first major support is near the $0.2350 level or the 61.8% Fib retracement level of the recent upward move from the $0.2286 low to $0.2442 high. On the upside, the price is clearly facing a huge resistance near $0.2400. To start a strong rally, the price must break the trend line resistance and then gain pace above $0.2440. Key Breakdown Support for XRP If ripple fails to clear the $0.2400 and $0.2440 resistance levels, there is a risk of a bearish breakdown. The first key support is near the $0.2350 level. The next major support is near the $0.2300 zone and the $0.2286 swing low. A clear break below the $0.2286 low is likely to spark a sharp decline towards $0.2200 or even $0.2120 in the near term. Technical Indicators 4-Hours MACD \u2013 The MACD for XRP\/USD is slowly moving in the bullish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now struggling to settle above the 50 level. Major Support Levels \u2013 $0.2365, $0.2350 and $0.2300. Major Resistance Levels \u2013 $0.2400, $0.2440 and $0.2500.<\/p>\n","protected":false},"author":67,"featured_media":448829,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,4531,10972,78763],"class_list":["post-448827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-xrp","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple\u2019s XRP Price is Facing Hurdles<\/h2>\n
Source: XRPUSD on TradingView.com<\/a><\/pre>\n
Key Breakdown Support for XRP<\/h2>\n