{"id":129511,"date":"2021-06-21T08:02:12","date_gmt":"2021-06-21T08:02:12","guid":{"rendered":"https:\/\/precoinnews.com\/?p=129511"},"modified":"2021-06-21T08:02:12","modified_gmt":"2021-06-21T08:02:12","slug":"ripple-price-analysis-bears-in-control-below-0-80","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-bears-in-control-below-0-80\/","title":{"rendered":"Ripple Price Analysis: Bears In Control Below $0.80"},"content":{"rendered":"
Ripple price is trading in a bearish zone below $0.80 against the US Dollar. XRP price could correct higher, but upsides are likely to be limited below $0.8200.<\/em><\/p>\n There was a strong rejection noted above $0.9200 in ripple price against the US Dollar. The XRP\/USD pair broke the $0.90 and $0.88 support levels to move into a bearish zone.<\/p>\n It even settled below the $0.82 level and the 55 simple moving average (4-hours). The price broke the $0.8000 support zone and it traded as low as $0.7334. The price is now showing bearish signs and it is struggling to stay above $0.7300.<\/p>\n It is well below $0.8000 and the 55 simple moving average (4-hours). An immediate resistance is near the $0.7800 level. It is near the 23.6% Fib retracement level of the downward move from the $0.9292 swing high to $0.7334 low.<\/p>\n The next major resistance is near the $0.8000 level. The main resistance is near the $0.8200 zone. There is also a major bearish trend line forming with resistance near $0.8200 on the 4-hours chart of the XRP\/USD pair.<\/p>\n The trend line is close to the 50% Fib retracement level of the downward move from the $0.9292 swing high to $0.7334 low. The 55 simple moving average (4-hours) is also near $0.8300 to act as a major hurdle for the bulls. A break above $0.8200 and $0.8300 could open the doors for a move towards $0.9000.<\/p>\n If there is no upside break, the price could continue to move down below $0.730. The next support is near $0.70, below which the bears are likely to aim a larger decline.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is clearly facing hurdles near $0.8200 and the 55 simple moving average (4-hours). Overall, the price could continue to move down below the $0.7200 and $0.7000 support levels.<\/p>\n 4 hours MACD \u2013 The MACD for XRP\/USD is now gaining momentum in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is well below the 50 level.<\/p>\n Key Support Levels \u2013 $0.72, $0.70 and $0.65.<\/p>\n Key Resistance Levels \u2013 $0.80 and $0.82.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n