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https://www.newsbtc.com/?s=Ripple%20Price%20%28XRP%29%20Could%20Breakdown%20Below%20%240.2480
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Crypto tags:
#RippleNews #CryptoNews
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Transcript:
0:00:00 Ripple Price (XRP) Could Breakdown Below $0.2480
0:00:06 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:12 Ripple price is struggling to gain momentum above the $0.2600 resistance against the US dollar.
0:00:19 There is a connecting bearish trend line forming with resistance near $0.2545 on the hourly chart of the XRP/USD pair.
0:00:28 The price could decline sharply below the $0.2500 and $0.2480 support levels in the near term.
0:00:37 Ripple price is showing bearish signs below $0.2500 against the US Dollar, similar to bitcoin.
0:00:45 This week, XRP price made another attempt to climb above the $0.2650 resistance against the US Dollar.
0:00:53 The price failed to remain in the positive zone above $0.2650 and later started a fresh decline.
0:00:60 The bulls failed to keep the price above the $0.2600 level and the 100 hourly simple moving average.
0:01:07 Ripple is struggling and is trading well below the $0.2580 level.
0:01:13 The recent decline was such that the price even broke the $0.2550 support.
0:01:19 A swing low was formed near $0.2510 and the price is currently correcting higher.
0:01:26 It broke the 23.6% Fibonacci retracement level of the recent decline from the $0.2636 high to $0.2511 low.
0:01:36 However, the upward move was capped by the $0.2560 level.
0:01:42 Moreover, there is a connecting bearish trend line forming with resistance near $0.2545 on the hourly chart of the XRP/USD pair.
0:01:51 If there is an upside break above the trend line, the price could test the $0.2580 resistance.
0:01:58 Additionally, the 50% Fibonacci retracement level of the recent decline from the $0.2636 high to $0.2511 low is also near the $0.2580 level.
0:02:11 If the price climbs above $0.2580 level, there are chances of it revisiting the main $0.2650 resistance area in the near term.
0:02:22 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.
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