{"id":160126,"date":"2022-07-11T07:05:51","date_gmt":"2022-07-11T07:05:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160126"},"modified":"2022-07-11T07:05:51","modified_gmt":"2022-07-11T07:05:51","slug":"ripple-price-analysis-risk-of-more-losses-below-0-305","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-risk-of-more-losses-below-0-305\/","title":{"rendered":"Ripple Price Analysis: Risk of More Losses Below $0.305"},"content":{"rendered":"
Ripple price is struggling below $0.3500 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3200 and $0.3050 to avoid more losses.<\/em><\/p>\n After forming a base near the $0.3060 zone, ripple price started a fresh recovery against the US Dollar. The XRP\/USD pair was able to clear the $0.3200 resistance zone.<\/p>\n The price even broke the $0.3320 resistance and the 55 simple moving average (4-hours). However, the price failed to gain strength above the $0.3550 zone. A high was formed near $0.3557 and the price started a fresh decline.<\/p>\n There was a move below the $0.3320 support. It even traded below the 50% Fib retracement level of the upward move from the $0.3064 swing low to $0.3557 high.<\/p>\n It is now trading below $0.332 and the 55 simple moving average (4-hours). XRP is also close to the 76.4% Fib retracement level of the upward move from the $0.3064 swing low to $0.3557 high. Besides, there is a major contracting triangle forming with resistance near $0.3500 on the 4-hours chart of the XRP\/USD pair.<\/p>\n On the upside, the price is facing resistance near $0.3320. The next major resistance is near the $0.3500 level. A clear move above the $0.3500 and $0.3550 resistance zones might start a fresh increase.<\/p>\n In the stated case, the price could even surpass the $0.3750 resistance. Any more gains might send the price towards the $0.4000 resistance.<\/p>\n An initial support on the downside is near the $0.3200 level. The next main support is near the $0.3050 zone. Any more losses could lead the price towards the $0.2880 level, below which the price might even test $0.2550.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is now trading below $0.3320 and the 55 simple moving average (4-hours). Overall, the price could decline heavily if there is a clear move below the $0.3050 support.<\/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 below the 50 level.<\/p>\n Key Support Levels \u2013 $0.3200, $0.3050 and $0.2880.<\/p>\n Key Resistance Levels \u2013 $0.3320 and $0.3500.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n