{"id":452819,"date":"2020-12-22T07:28:28","date_gmt":"2020-12-22T07:28:28","guid":{"rendered":"https:\/\/uniquehot.com\/?p=452819"},"modified":"2024-06-11T07:57:34","modified_gmt":"2024-06-11T07:57:34","slug":"ripple-xrp-bears-aim-0-42","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/ripple-xrp-bears-aim-0-42\/","title":{"rendered":"Charted: Ripple (XRP) Nosedives, Why Bears Could Aim $0.42"},"content":{"rendered":"
Ripple started a major decline after it broke the $0.5300 support against the US Dollar. XRP price is now trading well below $0.5000 and it could continue to move down towards $0.4200.<\/em><\/p>\n After a sharp spike towards $0.6500, ripple\u2019s XRP price started a steady decline. The price traded below the $0.6000 and $0.5500 support levels. Recently, there was a sharp decline in bitcoin<\/a> and Ethereum<\/a>, resulting in more losses in XRP.<\/p>\n There was a crucial downside break below the $0.5300 support level and the 100 simple moving average (4-hours). There was also a break below a major declining channel with support near $0.5400 on the 4-hours chart of the XRP\/USD pair.<\/p>\n <\/a><\/p>\n The pair settled below the $0.5000 support level and traded below the 50% Fib retracement level of the key upward move from the $0.4391 swing low to $0.6585 high.<\/p>\n It opened the doors for more losses below $0.4800. XRP price is now trading below the 76.4% Fib retracement level of the key upward move from the $0.4391 swing low to $0.6585 high. Any more losses could lead the price towards $0.4500. The next major support is near the $0.4300 level, below which the price could even test $0.4200.<\/p>\n If ripple starts a recovery wave, it could face a lot of hurdles, starting with $0.5000. The first major resistance for the bulls is near the $0.5250 and $0.5300 levels (the recent breakdown zone).<\/p>\n The main resistance is now forming near the $0.5500 level and the 100 simple moving average (4-hours). A close above the $0.5300 and $0.5500 levels could initiate a fresh rally towards the $0.6500 zone.<\/p>\n Technical Indicators<\/p>\n 4-Hours MACD \u2013 The MACD for XRP\/USD is gaining momentum in the bearish zone.<\/p>\n 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well below the 50 level.<\/p>\n Major Support Levels \u2013 $0.4500, $0.4300 and $0.4200.<\/p>\n Major Resistance Levels \u2013 $0.5000, $0.5300 and $0.5500.<\/p>\n","protected":false},"excerpt":{"rendered":" Ripple started a major decline after it broke the $0.5300 support against the US Dollar. XRP price is now trading well below $0.5000 and it could continue to move down towards $0.4200. Ripple started a strong decline from well above the $0.5300 support zone against the US dollar. The price is now trading well below $0.5000 and the 100 simple moving average (4-hours). There was a break below a major declining channel with support near $0.5400 on the 4-hours chart of the XRP\/USD pair (data source from Kraken). The pair is gaining bearish momentum and it could continue to move down towards $0.4300 or $0.4200. Ripple\u2019s XRP Price is Gaining Bearish Momentum After a sharp spike towards $0.6500, ripple\u2019s XRP price started a steady decline. The price traded below the $0.6000 and $0.5500 support levels. Recently, there was a sharp decline in bitcoin and Ethereum, resulting in more losses in XRP. There was a crucial downside break below the $0.5300 support level and the 100 simple moving average (4-hours). There was also a break below a major declining channel with support near $0.5400 on the 4-hours chart of the XRP\/USD pair. Source: XRPUSD on TradingView.com The pair settled below the $0.5000 support level and traded below the 50% Fib retracement level of the key upward move from the $0.4391 swing low to $0.6585 high. It opened the doors for more losses below $0.4800. XRP price is now trading below the 76.4% Fib retracement level of the key upward move from the $0.4391 swing low to $0.6585 high. Any more losses could lead the price towards $0.4500. The next major support is near the $0.4300 level, below which the price could even test $0.4200. Upsides Capped in XRP? If ripple starts a recovery wave, it could face a lot of hurdles, starting with $0.5000. The first major resistance for the bulls is near the $0.5250 and $0.5300 levels (the recent breakdown zone). The main resistance is now forming near the $0.5500 level and the 100 simple moving average (4-hours). A close above the $0.5300 and $0.5500 levels could initiate a fresh rally towards the $0.6500 zone. Technical Indicators 4-Hours MACD \u2013 The MACD for XRP\/USD is gaining momentum in the bearish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now well below the 50 level. Major Support Levels \u2013 $0.4500, $0.4300 and $0.4200. Major Resistance Levels \u2013 $0.5000, $0.5300 and $0.5500.<\/p>\n","protected":false},"author":67,"featured_media":452821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[74937,10972,78763],"class_list":["post-452819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n\n
Ripple\u2019s XRP Price is Gaining Bearish Momentum<\/h2>\n
Source: XRPUSD on TradingView.com<\/a><\/pre>\n
Upsides Capped in XRP?<\/h2>\n