Ripple Price Analysis: XRP Could Accelerate Losses Below $0.3000

Ripple price declined recently and broke the $0.3100 and $0.3070 supports against the US dollar.
There is a major bearish trend line in place with resistance at $0.3030 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains at a risk of more losses below the $0.3000 support area in the near term.

Analyst Claims Almost 3,500 Successful Hacks on Non-Crypto Companies in 2019
Friday August 16, 2019

Popular digital currency industry analysis Twitter account @Rhythmtrader states that almost 3,500 non-crypto companies have had their security breached so far this year. Well over a billion user accounts have been impacted by hackers....

The post Analyst Claims Almost 3,500 Successful Hacks on Non-Crypto Companies in 2019 appeared first on 12bitplay - Bitcoin Play.

Ripple price tumbled and broke key supports against the US Dollar and Bitcoin. XRP/USD could accelerate losses towards the $0.2920 support in the coming sessions.
Ripple Price Analysis
This past week, there were mostly range moves, with a bearish formation below $0.3200 in ripple price against the US Dollar. The XRP/USD pair recently faced an increased selling pressure, resulting in more losses below $0.3100. The pair broke the $0.3070 support and the 100 hourly simple moving average. Sellers gained paced and pushed the price below the $0.3050 and $0.3020 supports as well. A new low was formed near $0.3000 and the price remains at a risk of more losses.
At the moment, the price is gaining bearish momentum below $0.3020. An initial resistance is at the 23.6% Fib retracement level of the recent slide from the $0.3075 high to $0.2997 low. Moreover, there is a major bearish trend line in place with resistance at $0.3030 on the hourly chart of the XRP/USD pair. It seems like the trend line and $0.3032 level may act as a solid barrier. Above these, the 50% Fib retracement level of the recent slide from the $0.3075 high to $0.2997 low is near $0.3036. Therefore, it seems like the $0.3030-0.3040 area might act as a solid barrier for buyers in the coming sessions.

Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further
Thursday August 15, 2019

Ripple price declined sharply after it broke the key $0.2900 support area against the US dollar. The price is down more than 10% and even tumbled to test the $0.2350 level. A short term...

The post Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ripple price is clearly under pressure below $0.3040. Therefore, there are high chances of more declines below $0.3000. The next major support is near the $0.2920 level, where buyers are likely to appear.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is gaining bearish momentum, with a lot of negative signs.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently in the oversold area, with a bearish angle.
Major Support Level – $0.3000
Major Resistance Level – $0.3040
The post Ripple Price Analysis: XRP Could Accelerate Losses Below $0.3000 appeared first on NewsBTC.

Bitcoin (BTC) Price Recovery Could Fade, Fresh Decrease Likely
Friday August 16, 2019

Bitcoin price started an upside correction after trading as low as $9,483 against the US Dollar. The price is facing a strong resistance near the $10,350 and $10,400 levels. There is a major bearish...

The post Bitcoin (BTC) Price Recovery Could Fade, Fresh Decrease Likely appeared first on 12bitplay - Bitcoin Play.

You may also like...