- Ripple XRP Falls Lower Against the USD Testing the $0.1780 Level in One Deep Slope
- Ripple XRP Starts Gaining Momentum Shortly After but the Bulls Aren’t in Control Yet
Ripple News Today – At the beginning of trading today, the price of XRP fell below the $0.1800 support level for the first time in weeks. The fall was drastic and it took the price from the $0.1850 level to the $0.1780 level within a few minutes. Things took a turn for the worst after the token fell below the key support at $0.1820. For more than two hours after the fall below $0.1800, the $1.8200 level serves as resistance preventing higher highs against the USD. Falling below the contracting triangle at the $1.8300 level just made everything worse for XRP.
Ripple News Today – XRP Faces the Possibility of Lower Lows Against the USD
XRP’s 5% nosedive this morning only reduced investors’ confidence in the token and in Ripple, its parent company. From our XRP news yesterday, we talked about the possibility of the token retesting the $0.2000 level when it started gaining momentum to move above the $0.1900 level again. Unfortunately, Ripple XRP was unable to move above the resistance at $0.1900. It’s important to note that the fall in the price of XRP wasn’t isolated. Bitcoin was moving downward and it dragged all the altcoins with it. Remaining below the support at $0.1850 level will keep XRP bearish for a long time.
The price is XRP is now below the 100 hourly simple moving average. This also led it to the 23.6% Fib retracement level of the last decline from the $0.1900 high to the $0.1783 low which is near $0.1810. This $0.1810 level subsequently served as key resistance for a long time before the token finally started to increase against the USD. However, the increase in price wasn’t a surge. It was more like a slow crawl upward. The token managed to retest the $0.1800 level about 4 hours after it fell to the $0.1780 level. It crossed the resistance at $0.1780 and $0.1783.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the price of the token was $0.182311. It is down by 1.41% against the USD and down by 0.70% against Bitcoin BTC. The MACD is struggling to move back to the bullish level and the relative strength index was below 30. The 24 hour trading volume is $1,082,637,533 and the market capitalization is $8,068,685,822. Key support levels have been formed at $0.1700, $0.1720, and $0.1780. On the other hand, there are resistance levels at $0.1850, $0.1820, and $0.1810.