Ripple (XRP) Price Facing Significant Resistance, Time To Sell?
Ripple price is currently struggling to surpass the $0.2560 and $0.2600 levels against the US dollar. The price is likely to decline unless there is a clear break above the $0.2600 resistance.
This week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair (data source from Kraken).
A clear break below the $0.2500 support might start another decrease in the near term. Ripple price is facing a lot of key hurdles against the US Dollar and bitcoin.
XRP price is likely to struggle near $0.2600 and it could resume its decline.
Ripple Price Analysis After forming a support near the $0.2420 level, ripple started an upside correction against the US Dollar.
XRP/USD recovered above the $0.2500 resistance area and even climbed above $0.2560. However, the price failed to gain strength above the $0.2600 resistance and the 100 hourly simple moving average.
A high was formed near $0.2585 and the price recently trimmed its recent gains.
It declined below the $0.2500 level and tested the $0.2480 support.
A low was formed near $0.2478 and the price seems to be trading in a range.
Moreover, it broke the 23.6% Fib retracement level of the recent decline from the $0.2585 high to $0.2478 low.
On the upside, the price is facing a lot of hurdles near the $0.2520 and $0.2560 levels.
An immediate resistance is near the $0.2520 level.
Besides, the 50% Fib retracement level of the recent decline from the $0.2585 high to $0.2478 low is near the $0.2532 level.
The next key resistance is near the $0.2545 level and the 100 hourly simple moving average.
More importantly, this week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair.
Therefore, the price is likely to struggle near the $0.2545 and $0.2560 levels.
The main resistance is still near the $0.2600 area, above which the price is likely to start a strong rise towards $0.2750 or even $0.2820.
On the downside, an initial support is near the $0.2480 level.
If the price fails to stay above $0.2480, it could continue to move down towards the $0.2420 support area.
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This week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair (data source from Kraken).
A clear break below the $0.2500 support might start another decrease in the near term. Ripple price is facing a lot of key hurdles against the US Dollar and bitcoin.
XRP price is likely to struggle near $0.2600 and it could resume its decline.
Ripple Price Analysis After forming a support near the $0.2420 level, ripple started an upside correction against the US Dollar.
XRP/USD recovered above the $0.2500 resistance area and even climbed above $0.2560. However, the price failed to gain strength above the $0.2600 resistance and the 100 hourly simple moving average.
A high was formed near $0.2585 and the price recently trimmed its recent gains.
It declined below the $0.2500 level and tested the $0.2480 support.
A low was formed near $0.2478 and the price seems to be trading in a range.
Moreover, it broke the 23.6% Fib retracement level of the recent decline from the $0.2585 high to $0.2478 low.
On the upside, the price is facing a lot of hurdles near the $0.2520 and $0.2560 levels.
An immediate resistance is near the $0.2520 level.
Besides, the 50% Fib retracement level of the recent decline from the $0.2585 high to $0.2478 low is near the $0.2532 level.
The next key resistance is near the $0.2545 level and the 100 hourly simple moving average.
More importantly, this week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair.
Therefore, the price is likely to struggle near the $0.2545 and $0.2560 levels.
The main resistance is still near the $0.2600 area, above which the price is likely to start a strong rise towards $0.2750 or even $0.2820.
On the downside, an initial support is near the $0.2480 level.
If the price fails to stay above $0.2480, it could continue to move down towards the $0.2420 support area.
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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