- Ripple’s XRP Trading Price Facing Hurdles
- Instant Support is Close for the XRP/USD Pair
Ripple’s trading price is seeking support close to the $0.2880 level against the US dollar. Recently, the trading price of the coin has been going through a lot of challenges on the upside near the $0.2940 and $0.2950 levels. Currently, there is a major bearish trend line forming with resistance close to $0.2945 on the hourly chart of the XRP/USD pair. XRP is not the only coin in the market facing the same challenge, as Ethereum’s ETH is also struggling to surge above $182 and $185.
The current trading price of Ripple is under pressure below $0.2950 against the US dollar, meanwhile, Bitcoin is consolidating. For the trading price of XRP to recover in the near term, XRP must remain above the $0.2880 level.
Ripple’s XRP trading price has begun a new downward move after experiencing resistance close to $0.3000. The coin traded below the $0.3000 support area to move into a short term bearish zone. Also, there was close support below the $3.000 level and the 100 hourly simple moving average. In recent times, the price traded below the $0.2950 support area and tested the $0.2880 support zone. Currently, the recent low was established close to $0.2889 and the trading price is correcting higher.
Instant Support is Close for the XRP/USD Pair
An instant resistance is close to the $0.2930 level and the 100 hourly SMA. The next key resistance area is close to the $0.2940 level. Also, the 50% Fib retracement level of the recent decline from the $0.2981 high to $0.2889 low is close to the $0.2935 level. Currently, there is a major bearish trend line forming resistance close to $0.2945 on the hourly chart of the XRP/USD pair. For now, the trend line corresponds with the 61.8% Fib retracement level of the recent decline from the $0.2981 high to $0.2889 low.
Hence, an upside break above the $0.2950 zone is required for the bulls to take over. The coin can recover and trade towards the $0.3000 resistance, the subsequent major resistance is close to the $0.3050 and $0.3060 levels. Meanwhile, on the downside, the opening support is close to the $0.2900 area, although, the major support is close to the $0.2880 level. Thus, if there is a daily close below $0.2880 level, the trading price could hasten lower towards the $0.2850 and $0.2840 levels in the near term.
XRP (XRP) Price Today – XRP / USD
# Name Price 24H % 3 $0.238
Going by the Price chart analysis, there are possibilities of a new surge above the $0.2950 zone. On the other hand, the trading price could begin an extended decline towards $0.2840 or $0.2800. Currently, the Hourly MACD for XRP/USD pair is gradually moving back into the bullish zone, the RSI is increasing and might break the 50 levels. The major support levels are at $0.2900, $0.2880 and $0.2850, while the major resistance levels are at $0.2940, $0.2950 and $0.3000.