{"id":169068,"date":"2023-01-02T05:26:07","date_gmt":"2023-01-02T05:26:07","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169068"},"modified":"2023-01-02T05:26:07","modified_gmt":"2023-01-02T05:26:07","slug":"ripple-price-analysis-risk-of-a-drop-below-0-30","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ripple-price-analysis-risk-of-a-drop-below-0-30\/","title":{"rendered":"Ripple Price Analysis: Risk of A Drop Below $0.30"},"content":{"rendered":"
Ripple price is struggling below $0.3550 against the US Dollar, similar to bitcoin. XRP price must stay above $0.3000 to avoid more downsides in the near term.<\/em><\/p>\n This past week, ripple price saw a bearish reaction below the $0.3800 zone against the US Dollar. The XRP\/USD pair declined below the $0.3720 support zone to move into a bearish zone.<\/p>\n The price even traded below the $0.3550 level. Finally, there was a move below the $0.3200 level. The price traded as low as $0.3159 and is currently attempting an upside correction. The price is now trading below $0.3550 and the 55 simple moving average (4-hours).<\/p>\n On the upside, the price is facing resistance near $0.3300. It is near the 23.6% Fib retracement level of the downward move from the $0.3800 swing high to $0.3159 low.<\/p>\n 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. The main resistance is near the $0.3500 zone. It is near the 50% Fib retracement level of the downward move from the $0.3800 swing high to $0.3159 low.<\/p>\n A clear move above the $0.3480 and $0.3500 resistance zones might start a fresh increase. In the stated case, the price could even surpass the $0.3740 resistance. Any more gains might send the price towards the $0.400 resistance.<\/p>\n An initial support on the downside is near the $0.3200 level. The next major support is near the $0.3150 level, below which the price could even test the $0.300 support. Any more losses could lead the price towards the $0.2800 level, below which the price might even test $0.2650.<\/p>\n <\/p>\n Ripple Price<\/p>\n Looking at the chart, ripple price is now trading below the $0.355 zone and the 55 simple moving average (4-hours). Overall, the price could extend losses if it stays below the $0.3000 resistance zone.<\/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, $0.3150 and $0.300.<\/p>\n Key Resistance Levels \u2013 $0.3400 and $0.3500.<\/p>\nRipple Price Analysis<\/h2>\n
Technical indicators<\/h2>\n