Bitcoin Is Surging While Ripple Price (XRP) Price Remains Vulnerable

Ripple price failed to break the $0.4080 and $0.4100 resistance levels against the US dollar.
The price declined recently and broke the key $0.4020 and $0.4000 support levels.
This week’s followed key bullish trend line was breached with support near $0.4015 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price is now trading well below $0.4000 and it may continue to struggle in the near term.

It’s Clear Skies to $12,000 After Bitcoin Breaks This One Key Level
Wednesday February 12, 2020

Bitcoin’s bulls are currently expressing extreme strength as they hold the crypto above the key $10,000 level, and it now appears that BTC is gearing up for its next major movement that could send...

The post It’s Clear Skies to $12,000 After Bitcoin Breaks This One Key Level appeared first on 12bitplay - Bitcoin Play.

Ripple price is struggling to continue higher above $0.4100 against the US Dollar, and declined heavily vs bitcoin. XRP price could revisit the $0.3850 support before a decent recovery.
Ripple Price Analysis
In the past two sessions, bitcoin price extended gains above $12,800 and $13,000. However, ripple price failed to break the $0.4080 and $0.4100 resistance levels. The last swing high was near the $0.4078 and recently the price declined below the $0.4040 support. Moreover, there was a break below key $0.4020 and $0.4000 support levels. The price even spiked below the $0.3920 support and the 100 hourly simple moving average.
More importantly, this week’s followed key bullish trend line was breached with support near $0.4015 on the hourly chart of the XRP/USD pair. The pair traded as low as $0.3903 and it is currently correcting higher. It broke the $0.3940 level plus the 23.6% Fib retracement level of the recent decline from the $0.4078 swing high to $0.3903 low.
On the upside, there are a few important resistances formed near the $0.3990 and $0.4000 levels. Moreover, the 50% Fib retracement level of the recent decline from the $0.4078 swing high to $0.3903 low is near the $0.3990 level to act as a resistance. There is also a connecting bearish trend line forming with resistance near $0.4000 on the same chart for ripple.
Therefore, a successful close above the $0.3900 and $0.4000 levels is needed for a fresh recovery. However, the price may continue to struggle near the $0.4080 and $0.4100 resistance levels. A convincing break above the $0.4100 level is needed for a sharp recovery in the coming sessions.

Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows
Saturday February 15, 2020

Bitcoin has already had an explosive start to 2020, but the rocket ship is only just getting started with the cryptocurrency’s halving just “around the corner.” According to historical data, Bitcoin could rise to...

The post Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ripple price seems to be facing many hurdles on the upside such as $0.4000, $0.4080 and $0.4100. Therefore, as long as the price is below $0.4100, there is a risk of more losses. An immediate support is near $0.3850, below which the price may revisit the main $0.3750 support level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is likely to move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level, with a bearish angle.
Major Support Levels – $0.3900, $0.3850 and $0.3750.
Major Resistance Levels – $0.4000, $0.4080 and $0.4100.
The post Bitcoin Is Surging While Ripple Price (XRP) Price Remains Vulnerable appeared first on NewsBTC.

A Defense of This Support Could Send Ethereum on a Massive 200% Rally
Monday February 17, 2020

Ethereum (ETH) has seen some incredibly bearish price action over the past several days and weeks, with Bitcoin’s recent break below $10,000 catalyzing a short-term downtrend that has impacted all major cryptocurrencies. This bearishness...

The post A Defense of This Support Could Send Ethereum on a Massive 200% Rally appeared first on 12bitplay - Bitcoin Play.

You may also like...