Ripple Price Analysis: XRP Rejected at Key Resistance, Likely Facing Another Drop

XRP continues to fall, in line with the general bearish sentiment in crypto markets. The price fell below $0.92, the line of resistance. Now it is heading to low levels of support.

Technical Analysis

Technical Analysis by Grizzly

The Daily Chart

The daily timeframe shows that despite sudden spikes, the sellers still have the upper hand. We can see that the recent uptrends were caused by increased buying pressure from buyers, which resulted in price increases.

These areas are marked on the chart below with white lines and numbers 1 through 3. Comparing the current situation to the past, we can’t find the same structure that caused the price rise.

Key Support Levels: $0.6 & $0.5

Key Resistance Levels: $0.92 and $1.00

Moving Averages

MA20: $0.75

MA50: $0.78

MA100: $0.75

MA200: $0.87

The 4-Hour Chart

After XRP had corrected 50% of its losses in April, it failed the resistance barrier of $0.8 (which intersects the MA100 line) within the 4 hour timeframe. It has been in a downtrend since then and is expected to test the support at $0.68.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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