- Ripple XRP Falls Lower Against the USD Facing Lower Lows Near-term
- Falling Below the $0.1800 Shows That The Bears are in control of the Market
Ripple News Today – Ripple can’t seem to catch a break. The token has been on a steady decline for the past two weeks since it fell below key support at $0.2000 level. Yesterday, as the price of the token declined, it touched the $0.1690 level again for the first time in weeks. Shortly after the price of the token fell to this level, strong resistance was formed at the $0.1800 level. While the XRP token has been bearish for as long as we can remember, it’s important to note that yesterday’s bearish pressure was not an isolated event. Bitcoin BTC was falling against the USD and it dragged almost every altcoin along.
Ripple News Today – XRP is Deep in Bearish Pressure With no Hope for Recovery Near-term
Throughout last week, the Ripple XRP token was trading above $0.1800 support against the USD. The decline below $0.1900 was steep and it led to even lower lows against the USD. So, XRP was already in a vulnerable position when the price of Bitcoin started to move lower against the USD. The XRP token formed key support in the $0.1880 last week but it eventually lost the support falling as low as $0.1820 against the USD. XRP closed below the 100 hourly simple moving average. It subsequently reached a monthly low of $0.1690. After reaching the $0.1690 level, the token started to recover higher once again.
Ripple XRP got back to the $0.1720 level. After it crossed this resistance, it kept moving until it got to the $0.1750 resistance but the bearish pressure was too much and the token started to decline once again. As the price of Bitcoin BTC started to recover, the XRP token recovered along with it. It moved above the resistance at $0.1750 testing the $0.1777 level. At the time of writing, the token was back in red at $0.176704. It is down by 0.52% against the USD and down nu 0.83% against Bitcoin BTC. The trading volume over a 24 hour period is $1,066,209,818 and the market capitalization is $7,820,539,153.
XRP (XRP) Price Today – XRP / USD
The relative moving average for XRP is fully in the bearish zone below the 50 levels. The MACD is also in the bearish zone so there is a strong chance that the token will keep falling against the USD. There is immediate resistance at $0.1680, $0.1700, and $0.1750 while there are resistance levels at $0.1780, $0.1800, and $0.1880.