Monday, August 26Your Daily Bitcoin & Altcoin News Portal

Ripple Price (XRP) Targets Fresh Weekly Low After Bitcoin Nosedives

CryptoGirl

Please share if you find this article interesting.

Ripple Price (XRP) Targets Fresh Weekly Low After Bitcoin Nosedives

Ripple price is trading in a downtrend below the $0.3000 and $0.3050 resistances against the US dollar.The price is likely to extend its decline considering the recent decline in bitcoin price below $11,000.There is a major bearish trend line forming with resistance near $0.2980 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is facing an uphill task and it could even break the $0.2900 support area in the near term.Ripple price is trading with a bearish angle against the US Dollar, while recovering vs Looking at the chart, ripple price is facing many hurdles on the upside near $0.2990, $0.3000 and $0.3050. A successful close above the $0.3000 level and the 100 hourly SMA might encourage the bulls in the short term.Technical IndicatorsHourly MACD – The MACD for XRP/USD is slowly moving into the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still well below the 50 level.Major Support Levels – $0.2950, $0.2900 and $0.2840.Major Resistance Levels – $0.2990, $0.3000 and $0.3050.

Go to Source

CryptoGirl

Author: Aayush Jindal

Found this article interesting? Kindly share it on Social Media.

Comments

CryptoGirl