{"id":4656,"date":"2020-09-23T07:48:03","date_gmt":"2020-09-23T07:48:03","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=439401"},"modified":"2020-09-23T07:48:03","modified_gmt":"2020-09-23T07:48:03","slug":"ripple-xrp-near-crucial-juncture-heres-why-it-could-decline-sharply","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ripple-xrp-near-crucial-juncture-heres-why-it-could-decline-sharply\/","title":{"rendered":"Ripple (XRP) Near Crucial Juncture: Here\u2019s Why It Could Decline Sharply"},"content":{"rendered":"<p><em>Ripple failed to extend gains above $0.2580 and declined sharply against the US Dollar. XRP price is likely to decline heavily if it breaks the key $0.2300 support zone.<\/em><\/p>\n<ul>\n<li>Ripple is now trading well below the $0.2400 and $0.2380 support levels against the US dollar.<\/li>\n<li>The price is facing many hurdles and it is now well below the 100 simple moving average (4-hours).<\/li>\n<li>There was a break below a crucial bullish trend line with support near $0.2440 on the 4-hours chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair is likely to decline sharply if there is a close below $0.2300 and $0.2280.<\/li>\n<\/ul>\n<h2>Ripple Price is Testing Important Support<\/h2>\n<p>This week, we saw a fresh decline in <a href=\"https:\/\/www.newsbtc.com\/2020\/09\/23\/bitcoin-bears-are-likely-to-protect-10600\/\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>, <a href=\"https:\/\/www.newsbtc.com\/2020\/09\/23\/ethereum-price-action-suggest-300\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum<\/a>, and ripple. XRP price failed to stay above the $0.2500 and $0.2450 support levels, and moved into a bearish zone.<\/p>\n<p>There was a <a href=\"https:\/\/www.newsbtc.com\/2020\/09\/22\/ripple-xrp-price-turns-red\/\" target=\"_blank\" rel=\"noopener noreferrer\">sharp decline<\/a> after there was a close below the $0.2440 support and 100 simple moving average (4-hours). More importantly, there was a break below a crucial bullish trend line with support near $0.2440 on the 4-hours chart of the XRP\/USD pair.<\/p>\n<p>The pair even traded below the $0.2320 support and traded as low as $0.2293. It is currently consolidating losses above a significant support zone near $0.2290-$0.2300.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-439402\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12.png\" alt=\"Ripple (XRP)\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12.png 1828w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-460x218.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-860x408.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-768x365.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-1536x729.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-750x356.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/09\/Ripple-XRP-12-1140x541.png 1140w\" sizes=\"(max-width: 1828px) 100vw, 1828px\" \/><\/a><\/p>\n<pre>Ripple (XRP) price trades below $0.2350. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" target=\"_blank\" rel=\"noopener noreferrer\">TradingView.com<\/a><\/pre>\n<p>On the upside, an initial resistance is near the $0.2360 level or the 23.6% Fib retracement level of the recent decline from the $0.2590 swing high to $0.2293 low. The main resistance is near the $0.2440 level (the recent breakdown zone) and the 100 simple moving average (4-hours).<\/p>\n<p>The 50% Fib retracement level of the recent decline from the $0.2590 swing high to $0.2293 low is also near the $0.2440 level. A successful close above the $0.2440 resistance and the 100 SMA is must for a decent upward move in the near term.<\/p>\n<h2>More Losses in XRP?<\/h2>\n<p>If ripple fails to recover above the $0.2400 and $0.2440 resistance levels, there is a risk of more losses. The main breakdown support is forming near the $0.2290-$0.2300 zone.<\/p>\n<p>A downside break and close below the $0.2290-$0.2300 zone could start a sharp decline. The next main support is near the $0.2200 level, below which the price could accelerate lower towards $0.2120.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for XRP\/USD is slowly losing pace in the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is well below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.2300, $0.2290 and $0.2200.<\/p>\n<p>Major Resistance Levels \u2013 $0.2365, $0.2400 and $0.2440.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple failed to extend gains above $0.2580 and declined sharply against the US Dollar. XRP price is likely to decline heavily&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4657,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[112,74,195,197,198],"class_list":["post-4656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-analysis","tag-ripple","tag-xrp","tag-xrpusd","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/4656"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=4656"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/4656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/4657"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=4656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=4656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=4656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}