May 23, 2019
25 Views
0 0

Ripple (XRP) Price Testing Key Support: More Range Moves Likely

Written by

  • Ripple price struggled to break the $0.4080 and $0.4085 resistance levels against the US dollar.
  • The price declined recently and traded below the $0.4000, $0.3950 and $0.3840 support levels.
  • This week’s followed bullish trend line was breached with support near $0.3960 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is now trading near a major support area close to the $0.3650 and $0.3620 levels.

Ripple price moved lower within a range against the US Dollar and bitcoin. XRP is currently holding the key $0.3620 support and it is likely to climb higher towards $0.3950 or $0.4000.

Ripple Price Analysis

Recently, ripple price climbed steadily above $0.3950 and $0.4000 against the US Dollar. The XRP/USD pair even traded above the $0.4050 level and the 100 hourly simple moving average. However, the pair struggled to break the $0.4080 and $0.4085 resistance levels. As a result, there was a bearish reaction and the price declined below the $0.4050 and $0.4000 support levels. Besides, there was a clear break below the $0.3950 support and the 100 hourly SMA.

READ IN FULL

Article Tags:
· · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · ·
Article Categories:
News · NewsBTC

Leave a Reply

Your email address will not be published. Required fields are marked *