Ripple Price Analysis: XRP Remains Vulnerable Below $0.3500

Ripple Price Analysis: XRP Remains Vulnerable Below <img width=.3500" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.3500"1828" height="868" src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.3500" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=1024%2C486&ssl=1 1024w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=720%2C342&ssl=1 720w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/07/Ripple-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Ripple price declined heavily after it broke the key $0.3750 support area against the US dollar.
  • The price even broke the $0.3500 support level and traded to a new multi-week low at $0.2899.
  • There is a declining channel forming with resistance near $0.3205 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
  • The price could correct higher, but the bulls are likely to face resistance near $0.3250 and $0.3360.

Ripple price is under a lot of pressure below the $0.3250 pivot level against the US Dollar. XRP price might decline further if it struggles to trade above $0.3250 and $0.3360.

Ripple Price Analysis

This past week, there was a fresh decrease in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. The XRP/USD pair failed to climb above the $0.4090 and $0.4100 resistance levels. As a result, there was a strong decline below the $0.3750 support level. Moreover, there was a break below the $0.3500 support area and the 55 simple moving average (4-hours). It opened the doors for more losses and the price even broke the $0.3000 support.

A swing low was formed at $0.2988 and the price is currently correcting higher. It broke the $0.3050 level plus the 23.6% Fib retracement level of the recent drop from the $0.3507 low to $0.2988 high. However, there are many resistances near the $0.3200 and $0.3250 levels. Moreover, there is a declining channel forming with resistance near $0.3205 on the 4-hours chart of the XRP/USD pair.

The 50% Fib retracement level of the recent drop from the $0.3507 low to $0.2988 high is also near the $0.3204 level to act as a resistance. If there is a recovery above $0.3200 and $0.3250, the price could test the next major resistance is near $0.3360. The main resistance for the current downtrend is at $0.3500, above which the price may move into a positive zone.

On the downside, the $0.3000 level is a decent support. If there is a daily close below $0.3000, the price may perhaps decline heavily below $0.2900 in the coming sessions. The next key supports are near $0.2850 and $0.2620.

Ripple Price Analysis: XRP Remains Vulnerable Below <img class=.3500"alignnone size-large wp-image-54931 jetpack-lazy-image" src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/Ripple-2-1100x522.png?resize=1100%2C522&ssl=1" alt="Ripple Price Analysis XRP Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/Ripple-2-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.3500" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/Ripple-2-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

Looking at the chart, ripple price is clearly trading in a major downtrend below $0.3360 and $0.3500. As long as the price is trading below the $0.3500 pivot level, there is a risk of more losses below the $0.3000 and $0.2900 levels in the near term.

Technical indicators

4 hours MACD – The MACD for XRP/USD is slowly losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently recovering above the 30 level.

Key Support Levels – $0.3000, $0.2900 and $0.2850.

Key Resistance Levels – $0.3250 and $0.3360.

The post Ripple Price Analysis: XRP Remains Vulnerable Below $0.3500 appeared first on Live Bitcoin News.



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