Ripple Price Analysis: XRP Rejected at Key Resistance, Expected to Drop Further

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Ripple Price Analysis: XRP Rejected at Key Resistance, Expected to Drop Further 


 XRP is continuing to fall in line with the general gloomy attitude in the crypto markets. The price was rejected at the important resistance level of $0.92 and is presently descending to low levels, where support might be found.

  • The Chart of the Day

Despite the recent rises, it appears that the sellers still have the upper hand on a daily basis. When we look at prior recent uptrends, we can see that they were triggered by increased purchasing pressure from buyer takers, which resulted in price increases.

On the following chart, these locations are denoted by the numerals 1, 2, and 3 as well as white lines. We haven't been able to find the identical structure that caused the price increase Previously, as compared to the current condition.

$0.6 and $0.5 are the key support levels.

$0.92 and $1.00 are key resistance levels.

  • Moving Averages (MA's):


MA20: $0.75

MA50: $0.78

MA100: $0.75

MA200: $0.87

  • The Chart for 4 Hours

After recovering 50% of what it had lost in April, XRP failed to break over the resistance barrier at $0.8 in the 4-hour period (which intersects with the MA100 line as resistance). It has been in a slump since then, and it is projected to retest the $0.68 support level.
Location: 5Q3VPV3C+56

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