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XRPUSD Analysis: Will Ripple Drop Below $0.27 Handle?

XRPUSD Analysis: Will Ripple Drop Below $0.27 Handle?

February 15, 2019 AtoZ Markets  Ripple market has remained relatively stable over the past week as price action drops by 3.3%, bringing the price of the coin down to around $0.3068 level. However, the crypto market is down significantly over the past 3 months losing 36% over the stated period.

Moreover, Ripple is still standing in 3rd position as it is currently holds a $12.47 billion market cap valuation. However, the coin is closed to Ethereum as it only sits a small $320 million in market cap value behind.

Ripple Price Prediction for 15-17 February

Yesterday, Ripple price reached as high as $0.3094 level but later fell below the major support around $0.3070 against the USD. The coin price declined sharply and fell below the $0.3050 and $0.3040 major support levels. The decline led to face more losses beneath the $0.3000 support mark. Also, there was a break below a bullish pattern line with support at $0.30 level on the hourly chart.

Moreover, Ripple price is currently standing well below the $0.3045 resistance and 100 hourly SMA. The coin fell up to $0.2971 level and is currently trying to cover up losses. The technical indicators signals that the price might correct a few points for the time being.

Additionally, a new resistance is formed around $0.3030 level. However, the major resistance is around $0.3070 and 0.3080 level. Also, there is a bearish pattern line formed with resistance at $0.3070 mark. If the coin is able to correct upwards, the price of Ripple might confront a major resistance around $0.3045 and $0.3060 level.

In conclusion, Ripple price is currently in a bearish trend below the $0.3060 resistance level. And, it seems that the sellers are getting stronger and there is a danger of XRP falling below the previous low at $0.29 level. The next support after this point is placed at $0.2761 zone, below which the price of the coin might drop towards the $0.27-$0.26 region in the upcoming days.

Ripple Weekly Pivot Points

Ripple has weekly support near $0.2942 and resistance near $0.3251 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.

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