Ripple Price Technical Analysis XRP/USD Declines Below $0.8500

Ripple Price Technical Analysis  XRP/USD Declines Below $0.8500

Key Highlights


Ripple price fell sharply and declined below the $0.8500 and $0.8200 support levels against the US dollar.
There is a major bearish trend line forming with resistance near $0.8600 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains in a bearish zone and it may decline further towards $0.7800 in the near term.

Ripple price fell sharply against the US Dollar and Bitcoin. XRP/USD is now well below $0.8500 and it looks set for more losses in the short term.

Ripple Price Decline

There was a sharp downside reaction from the $0.9200 swing high in Ripple price against the US Dollar. The price declined and broke a major support area near $0.8500. It ignited further declines and the price even traded below the $0.8000 level before recovering. It is now trading well below the $0.9000 resistance and the 100 hourly simple moving average.

Recently, the price traded as low as $0.7877 before it recovered. It moved above the 50% Fib retracement level of the last drop from the $0.9236 high to $0.7877 low. However, the upside move was protected by the $0.8870 level. Moreover, there was close above the 61.8% Fib retracement level of the last drop from the $0.9236 high to $0.7877 low. It seems like the price failed to move above the maintain gains above the $0.8600 level. On the upside, there is a major bearish trend line forming with resistance near $0.8600 on the hourly chart of the XRP/USD pair.


Therefore, a major recovery above $0.8600 wont be easy. On the downside, the $0.8000 level is a decent support. Below the mentioned $0.8000, the price may retest the $0.7800 level in the near term.

Looking at the technical indicators:

Hourly MACD The MACD for XRP/USD is slightly in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for XRP/USD is currently recovering from the 30 level.

Major Support Level $0.8000

Major Resistance Level $0.8600

Charts courtesy Trading View

07.03.2018 / 23:05 71
Bitcoin Cash Price Technical Analysis  BCH/USD Declines Sharply Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price extended declines and moved below the $1,100 support against the US Dollar. There is a new connecting bearish trend
Ripple Price Technical Analysis  XRP/USD Back to Square One Ripple Price Technical Analysis
Key Highlights Ripple price failed to remain in a bullish zone and broke the $0.9450 support against the US dollar. Yesterdays short-term connecting
Ethereum Classic Price Technical Analysis  ETC/USD Retested Key Support Ethereum Classic Price Technical
Key Highlights Ethereum classic price declined sharply recently and tested an important support near $26.10 against the US dollar. There are two
Ripple Price Technical Analysis  XRP/USD Trimming Gains Ripple Price Technical Analysis
Key Highlights Ripple price traded above the $1.08 level yesterday before starting a new downside against the US dollar. There is a short-term
Ethereum Price Technical Analysis  ETH/USD Could Decline Further Ethereum Price Technical Analysis
Key Highlights ETH price formed a short-term top near $857 and moved down against the US Dollar. There is a key connecting bearish trend line forming
Ripple Price Technical Analysis  XRP/USD Surges Above Key Resistance Ripple Price Technical Analysis
Key Highlights Ripple price started a major upside move from the $0.8850 swing low against the US dollar. There was a break above a key bearish trend
Comments (0)
Add a comment
Comment on