{"id":162825,"date":"2022-08-29T05:37:29","date_gmt":"2022-08-29T05:37:29","guid":{"rendered":"https:\/\/precoinnews.com\/?p=162825"},"modified":"2022-08-29T05:37:29","modified_gmt":"2022-08-29T05:37:29","slug":"ripple-price-analysis-bears-aim-test-of-0-29","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-bears-aim-test-of-0-29\/","title":{"rendered":"Ripple Price Analysis: Bears Aim Test of $0.29"},"content":{"rendered":"
Ripple price is declining below $0.350 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3000 to avoid more losses in the near term.<\/em><\/p>\n After forming a base near the $0.3310 zone, ripple price started a fresh increase against the US Dollar. The XRP\/USD pair was able to clear the $0.3500 resistance zone.<\/p>\n The price even broke the $0.3550 resistance and the 55 simple moving average (4-hours). However, there was no move above the $0.3700 resistance zone. A high was formed near $0.3706 before there was a fresh decline. The price declined below the $0.3500 support zone.<\/p>\n There was a clear move below the $0.3400 level and the 55 simple moving average (4-hours). The pair traded as low as $0.3194 and is currently consolidating losses.<\/p>\n On the upside, the price is facing resistance near $0.3315. It is near the 23.6% Fib retracement level of the recent decline from the $0.3706 swing high to $0.3194 low. The next major resistance is near the $0.3400 level. There is also a key bearish trend line forming with resistance near $0.3400 on the 4-hours chart of the XRP\/USD pair.<\/p>\n It is close to the 50% Fib retracement level of the recent decline from the $0.3706 swing high to $0.3194 low. A clear move above the $0.3400 and $0.3450 resistance zones might start a fresh increase.<\/p>\n In the stated case, the price could even surpass the $0.350 resistance. Any more gains might send the price towards the $0.380 resistance. An initial support on the downside is near the $0.3180 level.<\/p>\n The next major support is near the $0.3000 level. Any more losses could lead the price towards the $0.2900 level, below which the price might even test $0.2750.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is now trading below the $0.3500 zone and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.320 and $0.318 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 below the 50 level.<\/p>\n Key Support Levels \u2013 $0.3180, $0.3000 and $0.2900.<\/p>\n Key Resistance Levels \u2013 $0.3400 and $0.3500.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n