Ripple Outlook: Price Might Decline Below $0.28 Previous Lows

December 17, 2018 AtoZ Markets  Ripple has experienced a decline of 0.51% against the USD over the past 24 hours of trading. Ripple coin continues to hold the second position with a total market cap of $11.8 Billion, putting them over $3.2 Billion ahead of Ethereum’s market cap.

Since last week, the price of Ripple has moved by $ -0.02 (-5.01%) with a total volume of over $ 97.23 Million. The highest price of the coin, $ 0.3128, was on 12 December 2018 at 13:00 GMT while the lowest price, $ 0.2815, was on 15 December 2018 at 17:00 GMT.

Ripple Price Prediction for Short Term

Looking at the charts, after trading as low as $0.2776 mark, Ripple price started an upward move against the USD. The XRPUSD pair traded higher and broke the $0.2800 and $0.2850 daily resistance levels. It also broke the 23.6% Fibonacci retracement level of the last slide from the $0.3090 swing high to $0.2776 swing low. However, the upward move of Ripple was capped by the $0.2900- $0.2910 zone, which was a support earlier.

Moreover, there was no test of the 50% Fibonacci retracement level of the last slide from the $0.3090 highs to $0.2776 lows. More importantly, there is a major bearish trend line formed with resistance at $0.2860 on the hourly chart of the XRPUSD pair. Therefore, the price of Ripple must break the $0.33 barrier to move into a positive zone.

The next resistances above $0.2900 is positioned near the $0.3089 and $0.3330 level. On the downside, an initial support is at $0.2707, below which the price may revisit the $0.27 swing low. If there is no break below $0.2770, the price is likely to bounce back toward the bullish zone.

To sum up, Ripple price is facing a solid resistance near $0.3089 mark and it is well below the 100 hourly SMA. Thus, it won’t be easy for buyers to gain bullish momentum above $0.3089 in the near term.

  • RSI(14) is valued below 50 which signals "Sell" action in daily time-frame.
  • William%R – "Oversold" signal on the daily time-frame.
  • MACD(12,26) – "Sell" signal in daily charts.
  • ATR(14) – signals that Ripple is highly volatile.

Ripple Weekly Pivot Points

Ripple has a weekly support near $0.2707 and resistance near $0.3089 levels.

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