{"id":135446,"date":"2018-05-24T02:30:12","date_gmt":"2018-05-24T06:30:12","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=135446"},"modified":"2021-09-01T02:29:45","modified_gmt":"2021-09-01T06:29:45","slug":"ripple-price-analysis-xrp-usd-facing-tough-challenge","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-price-analysis-xrp-usd-facing-tough-challenge","title":{"rendered":"Ripple Price Analysis: XRP\/USD Facing Tough Challenge"},"content":{"rendered":"

Key Highlights Ripple price declined further and traded below the $0.6000 support level against the US dollar. Yesterday\u2019s highlighted important bearish trend line with current resistance at $0.6300 is intact on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair is currently correcting higher and it may face hurdles near the $0.6200 and 0.6300 levels.<\/p>\n

Ripple price remained in a bearish zone against the US Dollar and Bitcoin. XRP\/USD traded towards $0.5750 before starting an upside correction towards $0.6200.<\/em><\/p>\n

Ripple Price Resistance<\/p>\n

After a minor upside correction, Ripple price faced sellers near $0.6300-0.6400<\/a> against the US Dollar. The price started a downside move and declined below the $0.6200 and $0.6000 support levels. The decline was crucial since the price traded close to the $0.5750 level. A low was formed near at $0.5758 before the price started an upside correction.<\/p>\n

It is currently correcting higher towards the $0.6200 level, which was a support earlier. It has moved above the 23.6% Fib retracement level of the last drop from the $0.6702 high to $0.5758 low. However, there are many barriers on the upside near $0.6200 and $0.6300. More importantly, yesterday\u2019s highlighted important bearish trend line with current resistance at $0.6300 is intact on the hourly chart of the XRP\/USD pair. The 50% Fib retracement level of the last drop<\/a> from the $0.6702 high to $0.5758 low is also positioned near $0.6230. Therefore, if the price moves higher above $0.6100, it is likely to face a strong resistance near $0.6200.<\/p>\n

Looking at the chart<\/a>, the remains in a bearish zone below $0.6500. On the downside, the $0.5750 is a strong support. A break below $0.5750 may open the doors for more declines towards the $0.5200 level in the near term.<\/p>\n

Looking at the technical indicators:<\/strong><\/p>\n

Hourly MACD<\/strong> \u2013 The MACD for XRP\/USD has moved back in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) <\/strong>\u2013 The RSI for XRP\/USD is currently moving higher towards the 50 level.<\/p>\n

Major Support Level<\/strong> \u2013 $0.5750<\/p>\n

Major Resistance Level<\/strong> \u2013 $0.6200<\/p>\n

The post Ripple Price Analysis: XRP\/USD Facing Tough Challenge<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Key Highlights Ripple price declined further and traded below the $0.6000 support level against the US dollar. Yesterday\u2019s highlighted important bearish trend line with current […]<\/a><\/div>","protected":false},"author":168,"featured_media":135449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nRipple Price Analysis: XRP\/USD Facing Tough Challenge - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"XRP price remained in a bearish zone against the US Dollar. 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