Ripple Price has started to decline and as mentioned in our previous analysis, it was showing a bearish trend. Will the XRP price continue to descend or will we see green numbers soon? Let’s take a look at it in more detail.
Ripple price analysis- at the golden ratio!
The Ripple price briefly declined below the golden ratio, down to $0.224. XRP is currently at the golden ratio ± $ 0.235, which prevails in the horizontal support between $ 0.236 – $ 0.25. There is still a death cross in the 4H price chart. The RSI has somewhat displayed improvement and the price has slightly increased.
This, and the fact that XRP is currently in strong support, suggests that the Ripple price could correct in the short term. However, the 50-4h EMA acts early as a resistance, which runs through the horizontal support. The XRP price also takes place at the 200-4h EMA Resistance. A possible price target would still be $ 0.265 as there is horizontal resistance.
Ripple price analysis- supports and resistances!
The ripple price is currently supported by the trend line. If it breaks, Ripple will find strong support again at $0.20 and later between $0.151 – $ 0.177. If Ripple now finds support at the Golden Ratio, XRP encounters another resistance after $ 0.265, which is between $0.276 and $ 0.295. The RSI could soon reach oversold regions, which is basically a buy signal.
Ripple price analysis- symmetrical triangle!
On the one hand, Ripple is bullish against BTC, as the XRP price has moved higher than the RSI, while the RSI is gaining momentum. However, the Ripple price has also made a “lower high”, which is the bearish contrast to the bullish “higher low”.
The XRP is currently in a symmetrical triangle, which is neutral and can break out either bullish or bearish. If XRP turns up, it will find strong resistance on the trend line, where the golden ratio is also at 0.00003340 BTC. Since the Ripple price is currently in very deep waters, it will be interesting to see whether there will be a kind of bottom formation here or whether the Ripple price will go towards 0 in the long term.
Once the trend line is broken, Ripple finds further resistance at the 50-week EMA, at 0.000038 BTC. Otherwise, very strong, horizontal support is waiting for ripple at 0.0 0002362 BTC.
>> Buy XRP at the current XRP rate . <<<
*This article was originally written in German by Constantine*