Ripple Showing Signs of Weakness But XRP Price Remains Supported

  • Ripple price seems to be struggling near the $0.3600 and $0.3700 resistance levels against the US dollar.
  • The price is likely to break the $0.3480 support area and decline further in the near term.
  • There is a key bearish trend line formed with resistance near $0.3600 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could correct below the $0.3480 and $0.3400 levels, but the $0.3250 level is a strong support.

Ripple price is signaling a downside correction against the US Dollar and bitcoin. XRP might decline below $0.3400, but buyers are likely to take a stand near $0.3320 or $0.3250.

Ripple Price Analysis

After a rejection near the $0.3790 level, ripple price corrected lower against the US Dollar. The XRP/USD pair declined below the $0.3700 and $0.3600 levels. Later, the price bounced back and made a few attempts to gain strength above the $0.3700 and $0.3740 resistance levels. However, buyers failed and the price dived below the 50% Fib retracement…

Read Full Story : NewsBTC

2019-04-11 05:00:20

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