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.