Ripple price is now trading below key supports against the US Dollar and bitcoin. XRP price might continue to face sellers near the $0.2480 and $0.2500 resistance levels.
In the past three sessions, there was a sharp decline in bitcoin price below the $7,800 support, resulting in a downward push in ripple and Ethereum against the US Dollar. XRP/USD failed to stay above the $0.2450 and $0.2420 support levels, and declined heavily.
Moreover, the price broke the $0.2400 support area and settled well below the 100 hourly simple moving average. Finally, the price tested the $0.2350 support area and a low was formed near $0.2347.
Recently, the price started an upside correction above the $0.2400 resistance area. Besides, there was a break above the 50% Fib retracement level of the recent drop from the $0.2526 high to $0.2347 low.
However, the previous support near the $0.2450 and $0.2460 levels is currently acting as a resistance. Additionally, the 61.8% Fib retracement level of the recent drop from the $0.2526 high to $0.2347 low is also near the $0.2458 level.
More importantly, there is a new bearish trend line forming with resistance near $0.2450 on the hourly chart of the XRP/USD pair. Therefore, ripple price might struggle to clear the $0.2450 and $0.2460 resistance levels.
Should there be an upside break above the $0.2460 resistance, the price could test the $0.2500 area and the 100 hourly SMA. The main resistance for a trend change is near the $0.2580 level.
On the downside, an initial support is near the $0.2400 level. If the price fails to stay above $0.2400, it will most likely continue lower towards the $0.2350 support area.
Ripple Price
Looking at the chart, ripple price is clearly positioned in a downtrend below the $0.2450 level. As long as the bears remain in action and the price is below $0.2500, there could be more downsides in the near term.
Hourly MACD The MACD for XRP/USD is struggling to remain in the bullish zone.
Hourly RSI (Relative Strength Index) The RSI for XRP/USD is currently just above the 40 level, with a minor bullish angle.
Major Support Levels $0.2400, $0.2360 and $0.2350.
Major Resistance Levels $0.2450, $0.2460 and $0.2500.
Here is the original post:
Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K - newsBTC
- The Worlds First Bitcoin Debit Card Is Almost Here [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Google removes malware Android apps used to secretly mine bitcoin [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin runner-up Litecoin emerges as low-price challenger [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- How does Bitcoin work? - Bitcoin - Open source P2P money [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin - Wikipedia, the free encyclopedia [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- POLICE STATE USA - COP Goes CRAZY at INNOCENT Black Guys Filming a Wal-Mart in Houston - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- START MINING LITECOIN with Home Built LITECOIN MINING RIG (FORGET BITCOIN) ----- THE FUTUR - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin going to $10,000 - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin going over $1,000 - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin Trading Robot - The First Automated Bitcoin Robot - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin or Gold? Squawk Walk Taipei- Squawkonomics - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin Miner AntMiner S1 180 - 200 GH/s Nu in de Aanbieding! - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- New Bitcoin Documentary: Boom or Bust - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- The Bitcoin Revolution Is Just Beginning (Full Interview) - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Market Extra: Bitcoin venture capital money hasnt kept up with buzz [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin Exchange BTC China Cuts Ties With China Merchants Bank [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin price slips as China steps up regulation [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin price slips on China regulation [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Win .33 Bitcoin ($150 or so, Depending on BTC value) - Meme game for May 1st - Take My Bitcoins - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin May v0.9.1 GitHub Source Code Development Visualization - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Jaromil on Russia TV about Bitcoin - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Atomic-Trade Bitcoin Exchange. AML, BSA, FinCEN compliant - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Breaks Down Bitcoin - global economic crisis - max Keiser - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- The Bitcoin Group #27 - China Bans Bitcoin Again - Politics - Dark Market - Bitcoin VC - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Edan Yago - Free Market Bitcoin regulation and Honduras free trade zones.mp4 - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- btc.sx Bitcoin derivatives platform George Samman clip - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Video: Roundup of This Week's Bitcoin News 25th April 2014 - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin and the Internet of Money - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Virgin Group founder Richard Branson, why he's decided to accept Bitcoin for space travel? - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin for Dummies - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Live Butterfly Labs Mining Cam- Take My BitCoins- win free Bitcoin - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Market Extra: Bitcoin is like the early Internet, minus the VC money [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- 'The Rise And Rise Of Bitcoin' Filmmaker: 'There Is No Answer Yet' [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin the movie: It just had to happen [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin Expo 2014: Fireside Chat with Dr Gavin Wood - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- reXBT.com Andreas M. Antonopoulos L.A. Bitcoin Meetup The Network Effect Part 2 of 8 - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin: what happens when the miners pack up their gear? [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- New Bitcoin student club at MIT will promote the virtual currency [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Dark Wallet Is About to Make Bitcoin Money Laundering Easier Than Ever [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- 4/29/14 - MIT Bitcoin Project, Mt Gox revival plan, Mastercard lobbyists & Team Rubicon - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Mini Bitcoin Mining Rig with 11 USB Block Erupter from ASICminer - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Is Bitcoin Over? Mt. Gox Pauses Withdrawals - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- BitCoin Dentist GoCoin Fox News Interview - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Blockchain Bitcoin BitMe iNjector Instant wallet funds adder - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Generator Feb 2014 NO SURVEY - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Free Bitcoin Generator 2013 1 0v Download Miner Tool 2014 - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- MAX KEISER - BITCOIN Is The FUTURE - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- The Bitcoin Meetup - BitcoinMKE Hosts Jeffrey Tucker - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- MIT Bitcoin Expo 2014 - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin, gold and competitive currencies - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Foundation Election Hiccups -- Pathetic Ohio Bans Bitcoins -- Dogecon SF 2014 - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Keiser Report: Gold, Silver, Bitcoin FTW! (E527) - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Talk Show #7 -- Skype BitcoinTalkShow to Call in Live! 🙂 - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin Turbo Miner | Fast Bitcoin Generator | NEW [Updated April 2014] Direct Download! No waiting! - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Basic Bitcoin Bitches - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Gold standard vs Fiat vs Bitcoin - Truthloader - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin Exchange - Bitcoin Predictions & Live Market Action! - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- The Bitcoin Revolution is Just Beginning (Preview) - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- How to Defund the System: Bitcoin vs. the Central Banksters - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin, Anarchy and Freedom with Roger Ver - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- bitcoin dogecoin donations and i ramble a ton - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Techcrunch - Is Bitcoin or Litecoin The New Euro-Disrupt Europe 2013 (Part1) - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- MIT Goes Bitcoin-Wild [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Bitcoin Weekly 2014 April 30: Bloomberg adds Bitcoin to their market index, MIT to produce campus-wide bitcoin ... [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- 'Dark Wallet' wants to make Bitcoin even harder to trace [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Better than Bitcoin! Creating Multiple Sources of Income, Growing Tomatoes - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- What is Bitcoin? - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- James Altucher Discusses the Future of Twitter and the Bitcoin - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Bitcoin made simple (video animation) - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Jon Matonis: Bitcoin - The future of commerce? - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- $100 in Bitcoin Going to Every MIT Undergrad - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Should I Invest in Bitcoin? Stock Market Investment Advice Mining, Price, Exchange, Value - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- The Rise of Digital Currency (documentary) - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Bitcoin: How We Got Here and Where We Are Going [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- CIA Bitcoin CONSPIRACY, SILVER TO BREAK THE ECONOMY - Andy Hoffman & Chris Duane - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- 5/1/14 - Larry Summers warns critics, Paym system & Bitcoin Center NYC roundtable - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- On est Connect S2 #07 1/2 : BitCoin et Musique sur Internet - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]