The price of Ripple XRP is plunging in the cryptonews today after it failed to stay above the $0.1900 support line and declined sharply against the US dollar. The XRP price now remains at a risk of more losses below the $0.1800 support area.
Today, we can see that the Ripple price is down more than 2% and settled below the $0.1880 level against the US dollar. A weekly low is formed near $0.1812 and the price is now well below the 100 hourly simple moving average.
After breaking the $0.1920 resistance, Ripple XRP is plunging and made a serious attempt to surpass the $0.1980 resistance area but it failed. The price of Ripple’s token traded as high as $0.1966 and recently started a sharp decline.
The price of Ripple XRP broke the key $0.1900 support level to move into a bearish zone. The bears were able to push the price below the $0.1880 pivot and the 100 hourly simple moving average. More importantly, we could notice a break below a major ascending channel with support near $0.1900 on the hourly chart of the XRP/USD pair. The pair even broke the last swing low near $0.1820 and traded to a new weekly low at $0.1812.
Right now, the price of Ripple XRP is plunging and consolidating losses above the $0.1812 low. An initial resistance is near the $0.1850 level, close to the 23.6% Fib retracement level of the recent decline from the $0.1966 high to $0.1812 low.
When it comes to resistance, the XRP news today show that the first line is near the $0.1880 level, followed by $0.1900. A successful close above $0.1900 might lead the price towards the 100 hourly simple moving average. Any further gains might also increase the chance of an upside break above the $0.2000 resistance line.
On the downside, an initial support is near the $0.1810 and $0.1800 levels. If XRP fails to recover above the $0.1850 and $0.1880 resistance levels, it could continue its trajectory down. Right now, Ripple XRP is plunging and the technical indicators look as following:
- Hourly MACD – The MACD for XRP/USD is currently building up momentum in the bearish zone.
- Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is right now below the 40 level.
- Major Support Levels – $0.1810, $0.1800 and $0.1720.
- Major Resistance Levels – $0.1850, $0.1880 and $0.1900.
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