The Ripple price failed to break the resistance levels against the US dollar at $ 0.5450 and $ 0.5550.
In the significant drop yesterday, the trend line remained intact on the hourly chart of the pair XRP / USD (data source from the Kraken) of $ 0.5465.
The pair could face many obstacles close to resistance levels of $ 0.5450 and $ 0.5500.
The surge price is struggling to maintain gains against US Dollar and Bitcoin. As long as the XRP / USD is below $ 0.5500, it may fall below $ 0.5100.
Ripple Price Analysis
Yesterday, we saw a good improvement against the US dollar at the Ripple price of $ 0.5020. The XRP / USD pair traded above $ 0.5200 and $ 0.5300. He was even traded above 23.6% Fib retrieval from his last drop, trading at low levels from $ 0.5936 to $ 0.5023. However, the uptrend was closed at $ 0.5450 and $ 0.5500 resistance levels (previous supports).
The 50% Fib recovery level of the last fall was not tested to be lower than $ 0.5936 to $ 0.5023. The price is currently lower than the $ 0.5420 level. More importantly, the notable declining trend line remained strong in the hourly table of the XRP / USD parity with $ 0.5465. Trendline resistance and $ 0.5450, close to 100-hour simple moving average. Therefore, if the price is higher, it may face many obstacles close to $ 0.5450 and $ 0.5500 resistance levels. The price of $ 0.5500 is likely to visit the $ 0.5720 level and the 76.4% Fib recovery level.
Ripple Price Analysis XRP Table
Looking at the chart, the surge price of $ 0.5020 is the risk of more loss of the rate of decline is low. If the vendors remain under control, the support area of $ 0.5000 has a high chance of testing.
When we look at the technical indicators:
The MACD for the hourly MACD – XRP / USD moves slowly downward in the drop zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP / USD is currently far below 45 levels.
Great Support Level – $ 0.5020
Great Resistance Level – $ 50500
XRP/USD Technical Analysis
We see that the hourly MACD remains in the negative zone with the decline. This also supports deepening of the decline. The stochastic indicator shows horizontal price movements in the oversold region. At the same time, the low level of the RSI and the negative region of CCI are still seen as other signals for the continuation of the decline.
Ripple (XRP) Bitcoin (BTC) to completely tie down and can draw its own path
Those who have been following the crypto money market for a long time have witnessed a distinction in terms of recent price movements. In the past tense, there was some debate that Ripple (XRP) would be able to completely divert from Bitcoin (BTC). This is actually a very reasonable claim because Ripper (XRP) in the Crypto money market is not considered a complete crypto money by others.
For example, Coinbase still doesn’t list Ripple (XRP) even though there is so much demand and interest. They have no plans for a change in the near future. In the same way, Coinmarket is not the only friend to the Ripple (XRP). Last year, no explanation was made, except Ripple (XRP). Although these behaviors have been very reactionary and even the subject of the case was discussed. However, as there were not enough legal regulations, no action could be taken.
The important thing here is that the Ripper (XRP) in the crypto money market is not equal to and kept at one level with the other crypto coins. But this does not mean that the policy of Ripple (XRP) is wrong. Because it is becoming more and more accepted in the traditional financial system. Actually it can now be said that Crypto coins are leaving the paths of Ripple (XRP) Aslında. The crypto money market now sees Ripple (XRP) as a bank coini and central coin.
As long as Bitcoin (BTC) remains in its shadow and dominance, there is no future for Ripple (XRP). Looking at current developments, Ripple (XRP) is taking the right steps.