{"id":452919,"date":"2020-12-23T07:08:09","date_gmt":"2020-12-23T07:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=452919"},"modified":"2024-06-11T07:58:16","modified_gmt":"2024-06-11T07:58:16","slug":"ripple-xrp-tumbles-25-pc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-xrp-tumbles-25-pc\/","title":{"rendered":"Charted: Ripple (XRP) Tumbles 25%, Why 100-day SMA Holds The Key"},"content":{"rendered":"
Ripple started a major decline below the $0.4200 and $0.4000 support levels against the US Dollar. XRP price is gaining momentum, but approaching the key 100-day simple moving average and $0.3200.<\/em><\/p>\n After SEC\u2019s threat, ripple\u2019s XRP price started a strong decline<\/a> from well above the $0.5000 level. The price is down over 25% and it broke many supports such as $0.4500 and $0.4000.<\/p>\n The price even settled below $0.4000 to move further into a bearish zone<\/a>. There was a break below the 50% Fib retracement level of the main upward move from the $0.2270 swing low to $0.7853 high. Moreover, there was a break below a major declining channel with support near $0.4000 on the daily chart of the XRP\/USD pair.<\/p>\n <\/a><\/p>\n XRP price is now trading well below the $0.3800 level. It is now approaching the $0.3400 support zone and the 100-day simple moving average.<\/p>\n The 76.4% Fib retracement level of the main upward move from the $0.2270 swing low to $0.7853 high is also near the $0.3580 level. The next major support is near the $0.3250 level, followed by $0.3000.<\/p>\n A close below the $0.3000 support zone could easily drift the market towards the $0.2650 and $0.2500 support levels in the coming days.<\/p>\n If ripple starts a recovery wave, it could face a lot of hurdles, starting with the broken channel trend line at $0.3850. The first major resistance for the bulls is near the $0.4000 level.<\/p>\n The main resistance is now forming near the $0.4450 level. A close above the $0.4000 and $0.4500 levels could pull the price out of the bearish zone. If not, it is likely to extend losses below $0.3500.<\/p>\n Technical Indicators<\/p>\n Daily MACD \u2013 The MACD for XRP\/USD is gaining momentum in the bearish zone.<\/p>\n Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well below the 50 level.<\/p>\n Major Support Levels \u2013 $0.3250, $0.3000 and $0.2500.<\/p>\n Major Resistance Levels \u2013 $0.3850, $0.4000 and $0.4500.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple started a major decline below the $0.4200 and $0.4000 support levels against the US Dollar. XRP price is gaining momentum, but approaching the key 100-day simple moving average and $0.3200. Ripple started a strong decline from well above $0.5000 against the US dollar after SEC\u2019s threat. The price is now trading well below $0.4000, and approaching the 100-day simple moving average. There was a break below a major declining channel with support near $0.4000 on the daily chart of the XRP\/USD pair (data source from Kraken). The pair is likely to find a strong buying interest near the $0.3250 and $0.3150 levels. Ripple\u2019s XRP Price is Down 25% After SEC\u2019s threat, ripple\u2019s XRP price started a strong decline from well above the $0.5000 level. The price is down over 25% and it broke many supports such as $0.4500 and $0.4000. The price even settled below $0.4000 to move further into a bearish zone. There was a break below the 50% Fib retracement level of the main upward move from the $0.2270 swing low to $0.7853 high. Moreover, there was a break below a major declining channel with support near $0.4000 on the daily chart of the XRP\/USD pair. Source: XRPUSD on TradingView.com XRP price is now trading well below the $0.3800 level. It is now approaching the $0.3400 support zone and the 100-day simple moving average. The 76.4% Fib retracement level of the main upward move from the $0.2270 swing low to $0.7853 high is also near the $0.3580 level. The next major support is near the $0.3250 level, followed by $0.3000. A close below the $0.3000 support zone could easily drift the market towards the $0.2650 and $0.2500 support levels in the coming days. Upsides Capped in XRP? If ripple starts a recovery wave, it could face a lot of hurdles, starting with the broken channel trend line at $0.3850. The first major resistance for the bulls is near the $0.4000 level. The main resistance is now forming near the $0.4450 level. A close above the $0.4000 and $0.4500 levels could pull the price out of the bearish zone. If not, it is likely to extend losses below $0.3500. Technical Indicators Daily MACD \u2013 The MACD for XRP\/USD is gaining momentum in the bearish zone. Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well below the 50 level. Major Support Levels \u2013 $0.3250, $0.3000 and $0.2500. Major Resistance Levels \u2013 $0.3850, $0.4000 and $0.4500.<\/p>\n","protected":false},"author":67,"featured_media":452921,"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":[74937,10972,78763],"class_list":["post-452919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple\u2019s XRP Price is Down 25%<\/h2>\n
Source: XRPUSD on TradingView.com<\/a><\/pre>\n
Upsides Capped in XRP?<\/h2>\n