Ripple (XRP) Price Won’t Go Quietly, Risk of Bounce Grows

Ripple price is correcting lower and is trading below the $0.2750 pivot level against the US dollar.
The price is holding the $0.2700 support area, but it is facing a strong resistance.
There is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could extend its decline to $0.2650 before it starts a fresh increase above $0.2750.

Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds
Thursday January 23, 2020

Bitcoin has been on an absolute roll over the past month, surging from $6,400 to $9,200 in a jaw-dropping fashion. Altcoins have followed suit, posting even more impressive gains as buyers have finally stepped...

The post Bitcoin’s Price Will Go Parabolic Above $10,000 If This Level Holds appeared first on 12bitplay - Bitcoin Play.

Ripple price is struggling to continue higher against the US Dollar and bitcoin. XRP price might decline towards $0.2650 or $0.2620 before it could climb higher.
Ripple Price Analysis
Yesterday, ripple price traded above the $0.2850 resistance against the US Dollar. XRP price traded to a new weekly high at $0.2871 and later started a downside correction. It broke the $0.2800 and $0.2750 support levels. Moreover, there was a close below the $0.2750 support area and the 100 hourly simple moving average. The bears gained pace and even pushed the price below the $0.2720 support.
The price tested the $0.2650 support area and it is currently correcting higher. It broke the $0.2700 level and the 23.6% Fib retracement level of the recent decline from the $0.2871 high to $0.2652 low. However, the previous support near the $0.2750 level is currently acting as a resistance. Additionally, the 100 hourly SMA is also preventing an upside break near $0.2750.
On the upside, the next key resistance is near the $0.2765 level. It coincides with the 50% Fib retracement level of the recent decline from the $0.2871 high to $0.2652 low. A successful break above the $0.2750 and $0.2765 resistance levels could start a fresh increase in ripple in the near term. The next key resistance is near the $0.2820 level, followed by the key $0.2850 barrier.
On the downside, the $0.2700 level is an immediate support. Moreover, there is a key bullish trend line forming with support near $0.2700 on the hourly chart of the XRP/USD pair. If there is a break below the trend line, the price could revisit the $0.2650 support area. Any further losses might push the price into a bearish zone towards $0.2600.

Bitcoin Reaches ‘Logical’ Support As Volatility Wanes, Explosive Move Incoming
Thursday January 23, 2020

After Bitcoin price rocketed last month from lows around $6,400, the crypto asset touched over $9,000 before falling lower to what a well-known financial market analyst says is “logical support.” Meanwhile, a tool designed...

The post Bitcoin Reaches ‘Logical’ Support As Volatility Wanes, Explosive Move Incoming appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ripple price seems to be struggling to climb above the $0.2750 and $0.2765 resistance levels. If it continues to struggle, there could be another dip towards the $0.2650 level. However, as long as the price is above $0.2650, it could bounce back above $0.2750.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 40 level.
Major Support Levels – $0.2700, $0.2650 and $0.2600.
Major Resistance Levels – $0.2750, $0.2765 and $0.2820.
The post Ripple (XRP) Price Won’t Go Quietly, Risk of Bounce Grows appeared first on NewsBTC.

OKEx’ Lennix Lai Makes Presence Felt at Davos, Roots for 100% Financial Inclusion with Blockchain
Thursday January 23, 2020

The changing landscape of the global economy due to the technological progress in the cryptocurrency and blockchain sector is not lost on anybody. As the countries of this world look at ways to embrace...

The post OKEx’ Lennix Lai Makes Presence Felt at Davos, Roots for 100% Financial Inclusion with Blockchain appeared first on 12bitplay - Bitcoin Play.

You may also like...