- Ripple XRP’s Price is Facing more Bearish Pressure
- If the Bulls Don’t Come Back to the Market, the Price Might Retest the $0.1800 Level for the First Time in Weeks
Ripple News Today – Since Ripple XRP lost support at $0.2000 a few days ago, the token has been unable to move higher against the USD. The token has been trading in red since it lost this support. If the token doesn’t recover higher against the USD, it will most likely fall as low as $0.1800 near-term. Ripple XRP fell below the support at $0.1950 leading to lower lows against the USD. The rejection XRP faced at this level was too strong and the token has been unable to recover since then. The next strong support for XRP is at $0.1840. The next few days of trading will determine if XRP will fall below this support.
Ripple News Today – Ripple XRP Struggles Against the USD With Lower Lows on the Way
In our XRP Price analysis yesterday, we noted that Ripple XRP was trading a little above the $0.1920 level. According to that analysis, moving above the $0.1950 resistance is crucial if XRP is to experience any major price recovery near-term. At the beginning of trading today, the XRP bulls were able to move the price above the 23.6% fib retracement of the last decline from $0.2040 to $0.1831. As the price moved above the $0.1920 level, the recovery gained momentum. However, moving above the $0.1950 level still appears impossible for now. The $0.1950 level also happens to be above the 100 hour SMA.
XRP (XRP) Price Today – XRP / USD
Below the declining channel, there was a break near the $0.1885 level that paved the way for lower lows against the USD. There is a strong chance that the price of XRP will keep moving lower near-term. If this happens, it will find strong price support at $0.840. The next support after this will be at $0.1831 and the final initial support is at 0.1800. The relative strength index is above 40 but isn’t yet near 50. So, the bears are still in control of the market. The MACD is gaining pace but it is still bearish.
XRP Price Prediction 2020 – Ripple Price Prediction 2020
At the time of writing, the price of the Ripple XRP token is $0.186321. It is down by 3.14% against the USD and down by 0.01% against Bitcoin BTC. The trading volume over a 24 hour period is $1,210,690,141 and the market capitalization is $8,219,170,471. There are key resistance levels at $0.1920 and $0.1950. Moving above the $0.1950 is essential for the XRP token to lose the bearish momentum and give way to the bulls. The most significant resistance in the $0.2000 and time will tell if the XRP token will make any progress to this level.