Ripple (XRP) Is Plunging And Here’s Why It Could Retest $0.20
Ripple extended its decline and broke the key $0.2270 support against the US Dollar, similar to bitcoin below $8,500. XRP price is now at a risk of more losses towards $0.2050 or $0.2000.
Ancient Math May Be the Key to Making Crypto Bull Market Riches
Wednesday February 19, 2020
As the Bitcoin and the rest of the crypto asset class enter the early phase of a new bull market, investors and analysts are hard at work developing a plan to capitalize on the...
The post Ancient Math May Be the Key to Making Crypto Bull Market Riches appeared first on 12bitplay - Bitcoin Play.
Ripple price is gaining bearish momentum and it is now well below $0.2300 against the US dollar.
The price is trading near the $0.2200 support and it is likely to extend its decline.
This week’s major bearish trend line is still active with resistance near $0.2295 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might slide further if it breaks the $0.2180 and $0.2150 support levels in the near term.
US a Major Bitcoin Miner Again; How Layer1’s Launch is Bullish for BTC
Wednesday February 19, 2020
The Texas Bitcoin mining facility by Layer1 has gone live for the first time today. The all-in-house US Bitcoin mining initiative is seeking to address Chinese dominance of the cryptocurrency’s mining activity. Layer1 is...
The post US a Major Bitcoin Miner Again; How Layer1’s Launch is Bullish for BTC appeared first on 12bitplay - Bitcoin Play.
Ripple Price Facing Bears
Recently, there was an increase in selling pressure on ripple after it failed to clear the $0.2400 resistance against the US Dollar. As a result, XRP price extended its decline below the $0.2320 support and the 100 hourly simple moving average.
The bears gained pace and pushed the price below the $0.2250 support level. Finally, the price spiked below the $0.2200 support level and traded to a new weekly low at $0.2171.
It is currently correcting higher, but it is facing hurdles near the $0.2200 and $0.2210 levels. Besides, the 23.6% Fib retracement level of the recent decline from the $0.2370 high to $0.2171 low is acting as a hurdle.
It seems like ripple is slowly turning bearish and it is likely to face a lot of hurdles near $0.2300. The first key resistance is near the $0.2270 level. It coincides with the 50% Fib retracement level of the recent decline from the $0.2370 high to $0.2171 low.
More importantly, this week’s major bearish trend line is still active with resistance near $0.2295 on the hourly chart of the XRP/USD pair. If there is a clear break above the trend line and $0.2300, the price could start a decent upward move towards $0.2400.
XRP Remains At Risk
If XRP fails to correct above $0.2270 or $0.2300, it is likely to extend its decline. The first key support is near the $0.2150 level. If the bears push the price below $0.2150, there is a risk of a sharp decline below $0.2100.
In the mentioned case, ripple price may perhaps decline towards the main $0.2000 support area in the coming sessions.
Hourly MACD – The MACD for XRP/USD is gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 40 level, with a bearish angle.
Major Support Levels – $0.2150, $0.2100 and $0.2000.
Major Resistance Levels – $0.2270, $0.2295 and $0.2300. The post appeared first on NewsBTC.
Economist: Ethereum’s Next Movement Could Leave Bears “Sweating”
Friday February 21, 2020
Ethereum’s price action as of late has been closely correlated with that of Bitcoin, with the benchmark cryptocurrency’s recent volatility spilling over into the altcoin markets, subsequently guiding ETH and most other cryptos to...
The post Economist: Ethereum’s Next Movement Could Leave Bears “Sweating” appeared first on 12bitplay - Bitcoin Play.