- This week’s Major Bearish Trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair.
- XRP recovered that day as it managed to close above the $0.2345 support level.
- The trading volume has increased substantially during the latter half of September.
Ripple price is currently struggling to surpass the $0.2560 and $0.2600 levels against the US dollar. The price is likely to decline unless there is a clear break above the $0.2600 resistance.
This week’s major bearish trend line is active with resistance near $0.2575 on the hourly chart of the XRP/USD pair. Since our previous XRP/USD analysis, XRP met resistance at $0.3262 and started to roll over.
During the recent declines, XRP dropped significantly, freefalling until finding support at $0.20. XRP recovered that day as it managed to close above the $0.2345 support level.
From above: The nearest level of resistance lies at $0.25. Above this, resistance is located at $0.2584, $0.27, $0.2811, $0.2890, and $0.30. The resistance at $0.30 is strengthened by the 100-days EMA. Higher resistance is expected at $0.31, $0.3177, and $0.3262 (bearish.382 Fib Retracement and 200-days EMA).
From below: The nearest level of support lies at $0.2345. Beneath this, support lies at $0.2250, $0.2150, and $0.2123 (downside 1.272 Fib Extension). Beneath this, support is found at $0.20 and $0.1848 (downside 1.414 and 1.618 Fib Extensions).
The trading volume has increased substantially during the latter half of September.
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