Like most cryptocurrencies, Ripple is having a hard time to recover against the US Dollar and Bitcoin also. There were attempts for correction and returning back but met difficult resistances around $0.2100.
- A very neck-tight situation for Ripple as it ‘down-warded’ below the $0.2060 level which is acting as a major support for quite some time now.
- Bearish trend being formed on the resistance $0.2030 on the hourly chart of XRP/USD.
- There could be an upside movement but only reaching $0.2100 or 0.2200.
Ripple broke major Support – XRP/USD
Ripple price had no chance to take a rest and return slowly upward as it did break below the $0.2060 mark swiftly which is acting for days now as a supporting line. That continued and the important $0.2000 level was breached which open doors for a bearish trend to take place. Weekly lowest was hit today morning Sep 14 – close to $0.1911 when a recovery attempt had started. XRP/USD since the previous descending wave from $0.2250 to $0.1911 has corrected over the 23.6% Fib retracement level.
As mentioned above, the bearish trend forming at the $0.2030 mark on the hourly chart of XRP/USD is close to the 38.2$ Fib Ret mark since the declining wave. That indicates and upward break is of less possibility but if it takes place the value could aim $0.2080.
Reaching and clearing the $0.2060 or $0.2080 is of great importance as it once acted as a support now on contrary it is a resistance and it is also very close to the 50% Fib retracement level of the mentioned flow.
- Hourly MACD – The MACD for XRP/USD is in the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is near the 50 level.
- Support Level – $0.1910
- Resistance Level – $0.2080
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