Ripple Broke Below $0.65 Support Level – What Next?


Ripple has become corrective and volatile, but still sustains below $0.65 to $0.63 price area. Ripple broke below $0.65 significant support level. What is next? The bears to continue further lower in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s XRP/USD Technical Analysis. 

July 13, 2021, | AtoZ Markets – Ripple climbed today morning during the Asian session against the U.S. Dollar. After bouncing from $0.63 to $0.65 support level, the bulls have regained momentum and pushed the price higher quite impulsively, but failed to break over the dynamic level of 20 EMA on the intraday chart and decline again. XRP is currently trading around $0.63 price area and trying to push downside. As per the current price action, the price may face strong resistance around $0.65 to $0.63 price area again in the coming days.

Ripple Broke Below as the Bears Are Still Residing On the Market

XRP is currently residing near $0.63 price area and trying to push lower. However, the price also broke below the Bollinger Bands middle band on the intraday chart.

Ripple Broke

Image: XRP 4 Hour Chart

According to the 4-hour chart, Ripple broke below and currently trading around $0.63 price area. As per the current price action, if the price pushes lower and breaks below the bearish flag pattern’s support, the bears may push the price down towards $0.60 to $0.58 price area in the coming days. On the contrary, if the price bounced higher from the bearish flag pattern’s support and had a 4-hour bullish candle close over $0.63 to $0.65 price area, the bulls may regain momentum and push the price upside towards $0.70 to $0.72 price area in the days ahead.

Moreover, the dynamic level of 20 EMA is currently residing above the price. Along with the Bollinger Bands middle band. So, the dynamic level may work as strong resistance if the price can have an impulsive bearish candle close below it. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the process.

XRP Bears May Regain Momentum

According to the daily chart, Ripple broke below as the bears are still optimistic. As per the current scenario, if the price can have an impulsive daily bearish candle close below $0.65 to $0.63 price area, the bears may regain momentum and push the price downward towards $0.60 to $0.58 price area as a first target. The second target will be $0.52 to $0.50 price area if the price can break below $0.60 to $0.58 support level in the coming days.

Ripple Broke

Image: XRP Daily Chart

In addition, the dynamic level of 20 EMA is currently residing above the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may act as strong resistance to push the price downside. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process.

To conclude, after an extended period of volatility, the price found resistance around $0.65 to $0.63 price area and had a daily bearish candle close below it. Another daily close will help to identify the definite momentum in the coming days. 

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