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Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K
Ripple price is down 5% and it broke the key $0.2420 support area against the US dollar.The price tagged the $0.2350 support area and it is currently correcting higher.There is a new bearish trend line forming with resistance near $0.2450 on the hourly chart of the XRP/USD pair (data source from Kraken).The price remains at a risk of more losses as long as it is below $0.2580.Ripple price is now trading below key supports against the US Dollar and bitcoin. XRP price might continue to face sellers near the $0.2480 and $0.2500 resistance levels.Ripple Price AnalysisIn the past three sessions, there was a Ripple PriceLooking at the chart, ripple price is clearly positioned in a downtrend below the $0.2450 level. As long as the bears remain in action and the price is below $0.2500, there could be more downsides in the near term.Technical IndicatorsHourly MACD – The MACD for XRP/USD is struggling to remain in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level, with a minor bullish angle.Major Support Levels – $0.2400, $0.2360 and $0.2350.Major Resistance Levels – $0.2450, $0.2460 and $0.2500.
Author: Aayush Jindal
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