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Technical analysis

Ripple Price Prediction: XRPUSD Pair Might Break Below $0.30 in Near Term

Amandeep Sonewane | Nov. 27, 2018
Ripple Price Prediction: XRPUSD Pair Might Break Below $0.30 in Near Term

November 27, 2018 AtoZ Markets - Ripple has seen a negative -7.47% over the past 24 hours of trading. The coin is now trading at a price below $0.35 levels. The crypto market has had a turbulent 7 day period as price drops by a total of -20.43%, according to CoinMarketCap stats. Ripple presently holds a $14.15 billion market cap value which puts the cryptocurrency in second place, ahead of Ethereum, In terms of market capatilization.

Since last week, the price of Ripple has dropped by -20.43% with a total volume of over $ 445.34 Million. The highest price of the coin, $ 0.47, was on 20 November 2018 at 16:00 GMT while the lowest price, $ 0.32, was on 25 November 2018 at 12:00 GMT.

Ripple Technical Analysis

Yesterday, Ripple price showed a minor upside recovery above the $0.36 level in Ripple price against the USD. The XRPUSD pair even traded above the $0.38 level, but it struggled to clear the $0.39 resistance handle. There was also a decline noted near the $0.385 levels and the 100 hourly SMA. Besides, the price failed to stay above the 61.8% Fibonacci retracement level of the last drop from the $0.41 highs to $0.32 lows.

Moreover, there was a fresh decline in the Ripple price below $0.37 level and the price moved back in a bearish zone. During the decline, the price of the coin broke the 61.8% Fibonacci retracement level of the last wave from the $0.31 lows to $0.38 highs. The price tested the $0.33 level where buyers emerged. Moreover, the 76.4% Fibonacci retracement level of the last wave also acted as a support near $0.33.

On the upside, an initial resistance is near the $0.36 level. More importantly, yesterday’s crucial bearish trend line is active with resistance at $0.3620 on the hourly chart of the XRP/USD pair.

In conclusion, Ripple price is clearly facing a lot of hurdles on the upside near the $0.36 and $0.39 levels. As per the technical indicators, Ripple price might break below the $0.34 support level and might drop below $0.30 level in the upcoming days.

  • 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 Pivot Points

Ripple has a daily support near $0.34 and resistance near $0.40 levels.

Think we missed something? Let us know in the comments section below.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.