{"id":150470,"date":"2022-01-25T07:54:01","date_gmt":"2022-01-25T07:54:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=150470"},"modified":"2022-01-25T07:54:01","modified_gmt":"2022-01-25T07:54:01","slug":"ripple-price-analysis-risk-of-more-losses-below-0-55","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-risk-of-more-losses-below-0-55\/","title":{"rendered":"Ripple Price Analysis: Risk of More Losses Below $0.55"},"content":{"rendered":"
Ripple price is trading in a bearish zone below $0.7000 against the US Dollar, like bitcoin. XRP price could extend decline if there is a move below the $0.5500 support.<\/em><\/p>\n After struggling to clear the $0.7500 zone, ripple price started a fresh decline against the US Dollar. The XRP\/USD pair declined below the $0.7000 support zone to move into a bearish zone.<\/p>\n The pair declined sharply below the $0.6500 level and the 55 simple moving average (4-hours). The pair traded as low as $0.5500 and recently corrected higher. There was a recovery wave above the $0.6000 level. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.76160 swing high to $0.5500 low.<\/p>\n The pair is still trading below $0.7000 and the 55 simple moving average (4-hours). Besides, there is a key contracting triangle forming with resistance near $0.6200 on the 4-hours chart of the XRP\/USD pair.<\/p>\n The next key resistance is near the $0.6500 level. It is near the 50% Fib retracement level of the downward move from the $0.76160 swing high to $0.5500 low. A close above the $0.6500 level could push the price towards the $0.7000 level.<\/p>\n The next major resistance is near the $0.7500 level. Any more gains could lead the price towards the $0.80 level. If there is no upside break above $0.6500, the price could resume its decline.<\/p>\n The next major support is near the $0.5500 level. Any more losses could lead the price towards the $0.4200 level in the near term.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is now trading below $0.7000 and the 55 simple moving average (4-hours). Overall, the price could start a steady increase if it stays above the $0.5500 support zone.<\/p>\n 4 hours MACD \u2013 The MACD for XRP\/USD is now losing momentum in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is below the 50 level.<\/p>\n Key Support Levels \u2013 $0.5800, $0.5500 and $0.5000.<\/p>\n Key Resistance Levels \u2013 $0.6200 and $0.6500.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n