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XRP Price Analysis: Decline or Rise?

coinputin.com – Ripple has launched a downward correction against the US dollar below $ 0.6500. The XRP price is probably poised for the next big move in a format similar to Bitcoin and ETH.

Ripple is down, but continues to be at $ 0.6000 against the US dollar. XRP is struggling to clear $ 0.6500, according to popular analyst Aayush Jindal. The 4-hour chart of the XRP/USD pair shows a large triangle with a resistance of $ 0.6340. The pair are likely to rise above $ 0.6500 and $ 0.6800 as long as they are above $ 0.5500 support.

What will happen in the price of XRP?
After falling as low as $ 0.4566, the XRP price began a new increase above $ 0.5500. The price of Bitcoin has risen above $ 19,000, and ETH is also struggling to break the $ 600 resistance.

XRP is currently struggling to clear resistance levels of $ 0.6350 and $ 0.6500. In the 4-hour chart of the XRP/USD pair, there is a large triangle formed with a resistance of $ 0.6340. If there is an upward break above the triangle resistance, the price may try to clear the resistance level of $ 0.6500. A successful closing above the resistance of $ 0.6500 can raise the price to the resistance level of $ 0.7000 in the next 3-4 days.

Is there a negative movement in XRP?
If XRP fails to pass resistance levels of $ 0.6340 and $ 0.6500, it can move slowly downwards. The first major negative support is currently near the $ 0.5750 level. The main support is close to the $ 0.5500 level, where the price can even be forced to stay above the 100 Simple Moving Average (4 hours).

Technical Indicators

  • 4-hour MACD: for XRP / USD, the MACD is losing speed in the drop zone.
  • 4-hour RSI (relative strength index): the RSI for XRP/USD is currently just below 50.
  • Major support levels: $ 0.5750 and $ 0.5500.
  • Main resistance levels: $ 0.6340, $ 0.6500 and $ 0.7000.
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