Every day we share just one recent video about XRP. Today we share “News: Ripple (XRP) Price Remains At Risk Of Further Decline” from CoinCheckup.com.
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Full credits for this video to NewsBTC who listed the info in this video on an article on their website:
0:00:00 Ripple (XRP) Price Remains At Risk Of Further Decline
0:00:04 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:10 Ripple price recovered recently above the $0.2900 level and tested $0.2960 against the US dollar.
0:00:20 The price seems to be facing a strong resistance near the $0.2950 and $0.2960 resistance levels.
0:00:29 There is a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair.
0:00:38 Ripple price is facing a lot of hurdles on the upside against the US Dollar and bitcoin.
0:00:43 XRP remains at a risk of more declines unless it climbs back above the $0.3000 resistance area.
0:00:51 After a short term correction, ripple price extended losses below the $0.2950 support against the US Dollar.
0:00:59 The XRP/USD pair broke the $0.2920 support level and declined heavily below $0.2900. It traded close to the $0.2800 level and settled well below the 100 hourly simple moving average.
0:01:16 A new monthly low was formed at $0.2796 and the price recently corrected higher.
0:01:22 It broke the $0.2860 level and the 23.6% Fibonacci retracement level of the last drop from the $0.3077 high to $0.2796 low.
0:01:36 The price even moved above the $0.2900 level, but it faced a strong resistance near the $0.2950 and $0.2960 resistance levels.
0:01:48 More importantly, the price failed to clear the 100 hourly simple moving average, which is currently near $0.2938. Besides, the price failed near the 50% Fibonacci retracement level of the last drop from the $0.3077 high to $0.2796 low.
0:02:07 Finally, there is also a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair.
0:02:17 Therefore, ripple must break the $0.2950 resistance, the trend line, and the 100 hourly SMA.
0:02:24 A successful close above the $0.2950-0.2960 zone could push the price towards the next resistance at $0.3000. Once there is a daily close above $0.3000, the price may start a decent recovery in the near term.
0:02:43 On the downside, an initial support is near the $0.2860 level.
0:02:49 If the bulls struggle to keep the price above $0.2860, the price could revisit the $0.2810 and $0.2800 support levels.
0:03:00 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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