{"id":372333,"date":"2019-02-22T05:00:28","date_gmt":"2019-02-22T05:00:28","guid":{"rendered":"https:\/\/uniquehot.com\/?p=372333"},"modified":"2024-06-11T13:13:42","modified_gmt":"2024-06-11T13:13:42","slug":"ripple-price-analysis-xrp-signaling-bearish-extension-in-short-term","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple-price-analysis-xrp-signaling-bearish-extension-in-short-term\/","title":{"rendered":"Ripple Price Analysis: XRP Signaling Bearish Extension In Short Term"},"content":{"rendered":"
Ripple price failed to hold gains and declined recently against the US Dollar and bitcoin. XRP\/USD could decline towards the $0.3050 support before it can start a fresh upward move.<\/em><\/p>\n Yesterday, we discussed a few important support levels<\/a> near the $0.3250 level for ripple price against the US Dollar. Recently, the XRP\/USD pair started a downside move from well above the $0.3400 level and declined below the $0.3300 and $0.3280 supports. Later, the price found a strong support near the $0.3250 level. More importantly a crucial breakout pattern was formed with support near $0.3250. However, buyers failed to hold gains, resulting in a sharp decline below $0.3250.<\/p>\n During the decline, the price broke the $0.3220 support and the 100 hourly simple moving average. Besides, this week\u2019s followed major bullish trend line was breached with support near $0.3245 on the hourly chart of the XRP\/USD pair. The pair even traded below $0.3160 and tested the $0.3150 support. A low was formed at $0.3144 and the price is currently correcting higher. It is testing the 23.6% Fib retracement level of the recent drop from the $0.3337 high to $0.3144 low. However, there are many hurdles on the upside<\/a> near the $0.3190 and $0.3200 levels.<\/p>\n There is also a bearish trend line in place with resistance near $0.3200 and the 100 hourly SMA. Therefore, a successful break above $0.3200 is needed for a decent recovery. The next resistance could be $0.3250 and the 50% Fib retracement level of the recent drop from the $0.3337 high to $0.3144 low.<\/p>\n <\/p>\nRipple Price Analysis<\/h2>\n