Bears Aim Test Of $0.29 In Ripple Price Analysis

Bears Aim Test Of $0.29 In Ripple Price Analysis

Along the same lines as bitcoin, the price of XRP has dropped below $0.350 when measured against the US Dollar. In order to prevent further price declines in the short term, the XRP price must maintain a position higher than $0.3000.

Detailed examination of the Ripple price

The price of ripple started a new uptrend against the US Dollar when it established a support level in the region of $0.3310 earlier today. It was finally possible for the XRP/USD pair to break over the $0.3500 resistance zone.

Even more significantly, the price breached the $0.3550 barrier of resistance as well as the 55 SMA (4-hours). On the other hand, there was no breakout above the $0.3700 resistance zone. Before there was a fresh drop, a high was formed close to $0.3706, but it has since fallen. As a result, the price dropped below the support level of $0.3500.

There was a discernible movement below the $0.3400 level, as well as the 55 simple moving average (4-hours). The price of the pair reached a low of $0.3194 during trading and is currently trying to recover some of its previous losses.

Near the $0.3315 area, the price is meeting sellers who are prepared to put up barriers to further gains. It is currently trading close to the 23.6% Fibonacci retracement level of the most recent downturn, which began at the swing high of $0.3706 and ended at the low of $0.3194. The following significant barrier can be seen close to the $0.3400 level. On the 4-hour chart of the XRP/USD pair, there is also a key negative trend line forming with resistance near $0.3400. This line of resistance is located near $0.3400.

It is quite close to the 50% Fib retracement level of the most recent downturn, which started at the swing high of $0.3706 and ended at the low of $0.3194. A fresh surge could begin following a decisive move that is greater than the resistance zones located between $0.3400 and $0.3450.

In the scenario described, the price may even break over the $0.350 barrier that has been preventing it from doing so. Any additional increases might potentially take the price towards the $0.380 barrier, which now acts as resistance. In the event that prices continue to move lower, an initial level of support can be found close to $0.3180.

The area close to the $0.3000 level constitutes the subsequent significant support. If the price continues to fall, it might reach the level of $0.2900, and if it falls any further, it could possibly challenge the level of $0.2750.
Taking a look at the chart, one can see that the price of ripple is currently trading below the $0.3500 zone as well as the 55 simple moving average (4-hours). If the price breaks through the $0.320 and $0.318 support levels, it’s possible that it may continue moving in a downward direction overall.

The use of technical indicators

4 hour MACD The MACD for XRP/USD is now gathering momentum in the bearish zone, where it has been since the beginning of the time period.

The relative strength index (RSI) for the XRP/USD pair has fallen below the level of 50 after four hours of analysis.

The key support levels are located at $0.3180, $0.3000, and $0.2900 respectively.

The key resistance levels are located at $0.3400 and $0.3500 respectively.

  • bitcoinBitcoin (BTC) $ 22,923.00 0.44%
  • ethereumEthereum (ETH) $ 1,636.41 0.07%
  • tetherTether (USDT) $ 1.00 0.04%
  • bnbBNB (BNB) $ 327.38 0.22%
  • usd-coinUSD Coin (USDC) $ 1.00 0.08%
  • xrpXRP (XRP) $ 0.397227 0.82%
  • binance-usdBinance USD (BUSD) $ 1.00 0.08%
  • cardanoCardano (ADA) $ 0.387786 0.97%
  • dogecoinDogecoin (DOGE) $ 0.091159 1.46%
  • matic-networkPolygon (MATIC) $ 1.21 0.21%
  • okbOKB (OKB) $ 44.07 0.45%
  • solanaSolana (SOL) $ 23.14 2.1%
  • shiba-inuShiba Inu (SHIB) $ 0.000014 0.19%
  • staked-etherLido Staked Ether (STETH) $ 1,631.32 0.09%
  • polkadotPolkadot (DOT) $ 6.60 0.62%
  • litecoinLitecoin (LTC) $ 96.98 0.51%
  • avalanche-2Avalanche (AVAX) $ 20.04 0.83%
  • tronTRON (TRX) $ 0.063565 1.09%
  • daiDai (DAI) $ 0.999982 0.05%
  • uniswapUniswap (UNI) $ 6.76 2.26%
  • cosmosCosmos Hub (ATOM) $ 14.35 2.26%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 22,836.00 0.61%
  • chainlinkChainlink (LINK) $ 6.94 0.55%
  • the-open-networkToncoin (TON) $ 2.29 0.42%
  • leo-tokenLEO Token (LEO) $ 3.38 5.72%
  • ethereum-classicEthereum Classic (ETC) $ 22.45 1.93%
  • moneroMonero (XMR) $ 166.87 0.4%
  • bitcoin-cashBitcoin Cash (BCH) $ 133.37 0.83%
  • aptosAptos (APT) $ 14.94 3.13%
  • stellarStellar (XLM) $ 0.090601 0.64%
  • apecoinApeCoin (APE) $ 5.66 1.5%
  • crypto-com-chainCronos (CRO) $ 0.080928 0.84%
  • quant-networkQuant (QNT) $ 137.44 1.67%
  • nearNEAR Protocol (NEAR) $ 2.34 2.02%
  • filecoinFilecoin (FIL) $ 5.20 1.67%
  • lido-daoLido DAO (LDO) $ 2.27 10.92%
  • algorandAlgorand (ALGO) $ 0.259892 1.26%
  • hedera-hashgraphHedera (HBAR) $ 0.068672 2.39%
  • vechainVeChain (VET) $ 0.024314 0.24%
  • internet-computerInternet Computer (ICP) $ 5.53 2.72%
  • fantomFantom (FTM) $ 0.540501 5.08%
  • decentralandDecentraland (MANA) $ 0.721951 2.18%
  • the-sandboxThe Sandbox (SAND) $ 0.717774 2.17%
  • axie-infinityAxie Infinity (AXS) $ 10.85 0.58%
  • aaveAave (AAVE) $ 85.04 1.22%
  • the-graphThe Graph (GRT) $ 0.131889 1.35%
  • eosEOS (EOS) $ 1.07 1.16%
  • flowFlow (FLOW) $ 1.11 1.52%
  • elrond-erd-2MultiversX (EGLD) $ 44.47 2.11%
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000185 1.56%