Ripple Correction Still Ongoing Despite 5% Price Drop

The Ripple correction is still ongoing as the XRP price dropped by 5 percent and broke the key $0.1680 support zone against the US dollar. The Ripple price is correcting higher but will face further hurdles close to the $0.1700 as we are reading in the following ripple price news.

The low is now formed close to the $0.1620 and the price will continue to correct higher. There is a key bearish trend line that is forming with a close resistance close to the $0.1685 on the hourly charts of the XRP/USD pair according to the price data. The ripple price will also face a lot more selling interest if the price corrects to the $0.1700.

Over the past few days, Ripple faced increased selling pressure from the $0.1750 zone and the XRP price broke a few other important supports close the $0.1720 level to move into a further bearish zone. The bears also gained much traction and they succeeded in gathering momentum below the $0.1680 level and the 100 hourly simple moving average so the price reached new lows of $0.1620 while the Ripple correction continues higher.

There was another break above the 23.6% Fib Retracement level of the previous decline and now Ripple is trading higher but will likely face more hurdles close to the $0.1680. If another upside break happens above the $0.1680 resistance area, the price could retest the $0.1700 price level and the 100 hourly SMA so a clear break above the 100 hourly SMA will be needed for another push towards the 0.1750 in the near term.

If the ripple price fails to recover further of the If the ripple price fails to recover further of the $0..
buy red viagra online www.ecladent.co.uk/wp-content/themes/twentyseventeen/inc/en/red-viagra.html no prescription

1680 and $0.1700 resistance level, there will be more chances of downsides in the near term. The main support is close to the $0.1620 level below which the bears will aim the $0.1580 zone. A further loss could even lead the ripple price towards the $0.1550 support area in the short-term. The MACD per hour for the XRP/USD pair is moving slowly into the bullish territory while the hourly relative strength index for the pair is recovering and moving further to the 50 levels. Ripple has been following the market conditions so far which remain harsh for most of the altcoins due to the worldwide COVID-19 pandemic.