Ripple price extended losses
below the 0.0000670 support against bitcoin. XRP is currently in a strong
downtrend and it may even test the next key support at 0.0000600BTC in the near
Key Talking Points
- Ripple price extended losses below the 0.0000670BTC
and 0.0000640 supports against bitcoin.
- There is a crucial bearish trend line formed
with resistance at 0.0000630BTC on the 4-hours chart of XRP to BTC (Data feed
- The price must climb above 0.0000630BTC and
0.0000654BTC to recover in the near term.
Ripple Price Analysis
In the past few days, there was a strong decline in ripple below the 0.0000670 support against bitcoin. XRP sellers remained in control below 0.0000670 and pushed the price below the 0.0000640 and 0.0000630 support levels versus BTC.
Looking at the chart, the price is clearly in a nasty downtrend from well above the 0.0000740 level. Later, there was a close below the 0.0000670 support and the 100 simple moving average (4-hours),…
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