Ripple (XRP) Is Plunging, But It's Too Early to Say Bulls Have Given Up 2020-03-23<\/title>\n<meta name=\"description\" content=\"Ripple is down more than 5% and it broke the $0.1550 support region. However, XRP price is still trading nicely above the key $0.1450 and $0.1420 support levels.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ripple-xrp-is-plunging-but-its-too-early-to-say-bulls-have-given-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple (XRP) Is Plunging, But It's Too Early to Say Bulls Have Given Up 2020-03-23\" \/>\n<meta property=\"og:description\" content=\"Ripple is down more than 5% and it broke the $0.1550 support region. 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{"id":418918,"date":"2020-03-23T04:18:54","date_gmt":"2020-03-23T04:18:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418918"},"modified":"2024-06-11T13:46:40","modified_gmt":"2024-06-11T13:46:40","slug":"ripple-xrp-is-plunging-but-its-too-early-to-say-bulls-have-given-up","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple-xrp-is-plunging-but-its-too-early-to-say-bulls-have-given-up\/","title":{"rendered":"Ripple (XRP) Is Plunging, But It’s Too Early to Say Bulls Have Given Up 2020-03-23"},"content":{"rendered":"

Ripple is down more than 5% and it broke the $0.1550 support region against the US Dollar. However, XRP price is still trading nicely above the key $0.1450 and $0.1420 support levels.<\/em><\/p>\n

\n
Ripple price started a fresh decline from the $0.1620 resistance area against the US dollar.<\/li>\n
The bears were able to push the price below the $0.1550 and $0.1500 support levels.<\/li>\n
There is a key bearish trend line forming with resistance near $0.1540 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n
The price is likely to remain well bid above the $0.1450 and $0.1420 support levels in the near term.<\/li>\n<\/ul>\n
Ripple Price is Holding Key Supports<\/h2>\n
After retesting the $0.1450 support area<\/a>, ripple failed to continue above the $0.1620 resistance. XRP price made a couple of attempts to surpass the $0.1620 barrier, but it failed.<\/p>\n
As a result, there was a fresh decline below the $0.1550 support level. The price even broke the $0.1500 support level and settled well below the 100 hourly simple moving average<\/a>.<\/p>\n
A low is formed near the $0.1446 and it seems like ripple price is well bid above the $0.1450 support. It is currently trading higher above the 23.6% Fib retracement level of the recent decline from the $0.1623 high to $0.1446 low.<\/p>\n
An initial resistance is near the $0.1535 level. There is also a key bearish trend line forming with resistance near $0.1540 on the hourly chart<\/a> of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $0.1623 high to $0.1446 low.<\/p>\n
$\"Ripple$ <\/a>
Ripple Price<\/figcaption><\/figure>\n
Above the trend line, the next resistance is near the $0.1580 level and the 100 hourly SMA. The main hurdle is still near $0.1620, above which the price is likely to rise steadily towards the $0.1750 level.<\/p>\n
Chances of a Downside Break<\/h2>\n
On the downside, the main support for ripple is near the $0.1450 level, below which it could is likely to test the $0.1420 support area.<\/p>\n
If the bears manage to lead the price below the $0.1450 and $0.1420 support levels, it could spark an increase in selling. The next major support is seen near the $0.1350 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for XRP\/USD is slowly moving back into the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently correcting higher towards the 45 level.<\/p>\n
Major Support Levels \u2013 $0.1450, $0.1420 and $0.1350.<\/p>\n
Major Resistance Levels \u2013 $0.1535, $0.1580 and $0.1620.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ripple is down more than 5% and it broke the $0.1550 support region against the US Dollar. However, XRP price is still trading nicely above the key $0.1450 and $0.1420 support levels. Ripple price started a fresh decline from the $0.1620 resistance area against the US dollar. The bears were able to push the price below the $0.1550 and $0.1500 support levels. There is a key bearish trend line forming with resistance near $0.1540 on the hourly chart of the XRP\/USD pair (data source from Kraken). The price is likely to remain well bid above the $0.1450 and $0.1420 support levels in the near term. Ripple Price is Holding Key Supports After retesting the $0.1450 support area, ripple failed to continue above the $0.1620 resistance. XRP price made a couple of attempts to surpass the $0.1620 barrier, but it failed. As a result, there was a fresh decline below the $0.1550 support level. The price even broke the $0.1500 support level and settled well below the 100 hourly simple moving average. A low is formed near the $0.1446 and it seems like ripple price is well bid above the $0.1450 support. It is currently trading higher above the 23.6% Fib retracement level of the recent decline from the $0.1623 high to $0.1446 low. An initial resistance is near the $0.1535 level. There is also a key bearish trend line forming with resistance near $0.1540 on the hourly chart of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $0.1623 high to $0.1446 low. Above the trend line, the next resistance is near the $0.1580 level and the 100 hourly SMA. The main hurdle is still near $0.1620, above which the price is likely to rise steadily towards the $0.1750 level. Chances of a Downside Break On the downside, the main support for ripple is near the $0.1450 level, below which it could is likely to test the $0.1420 support area. If the bears manage to lead the price below the $0.1450 and $0.1420 support levels, it could spark an increase in selling. The next major support is seen near the $0.1350 level. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is slowly moving back into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is currently correcting higher towards the 45 level. Major Support Levels \u2013 $0.1450, $0.1420 and $0.1350. Major Resistance Levels \u2013 $0.1535, $0.1580 and $0.1620.<\/p>\n","protected":false},"author":67,"featured_media":418920,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[3680,4531],"class_list":["post-418918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nRipple (XRP) Is Plunging, But It's Too Early to Say Bulls Have Given Up 2020-03-23<\/title>\n<meta name=\"description\" content=\"Ripple is down more than 5% and it broke the $0.1550 support region. 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