Analysis of the price of XRP 01/14/2019

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  • The price of XRP extended the losses and broke the support levels of $ 0.3300 and $ 0.3200 against the US dollar.
  • There is a bearish trend line of key connection with resistance at $ 0.3275 on the hourly chart of the XRP / USD pair (Kraken data).
  • The pair can correct some points, but it still has a risk of more losses below $ 0.3100 and $ 0.3000.

The price of XRP It declined sharply and broke the main supports against the US dollar and Bitcoin. XRP / USD can even break the support of $ 0.3000 this week if it stays below the $ 0.3400 level.

Analysis of the price of XRP

After trading in a range for some time below $ 0.3350, the price of the streak began a further decline against the US dollar. The XRP / USD pair broke the $ 0.3220 range support to advance in a bearish zone. The price was even negotiated below the $ 0.3150 level and was well below the 100-hour simple moving average. A new monthly minimum was formed at $ 0.3116 and the price is currently being corrected higher. It moved above the $ 0.3200 level, but the previous support at $ 0.3220 is acting as a resistance.

Above $ 0.3220, the Fibonacci retracement level of 23.6% from the recent fall from the high of $ 0.3823 to $ 0.3116 is $ 0.3280. In addition, there is a bearish key connection line with resistance at $ 0.3275 on the hourly chart of the XRP / USD pair. It seems that buyers are likely to fight around $ 0.3280 and the bearish trend line. If they are successful, the previous range resistance at $ 0.3350 can act as a solid barrier. An intermediate resistance is $ 0.3320 and the simple moving average is 100 hours. Above the SMA of 100 hours and the resistance of $ 0.3350, the price can test the resistance of $ 0.3460.

As for the graph, the price of XRP is trading in a strong bearish trend below $ 0.3300 and $ 0.3350. Once the current correction is completed, the price can resume falling below $ 0.3100 and $ 0.3050.

Technical indicators

MACD per hour: MACD for XRP / USD is moving slowly in the bullish zone, but the benefits may be limited.

RSI (RelatXRPiva force index) per hour: the RSI for XRP / USD jumped above level 40, but is fighting close to 50.

Higher support level – $ 0.3100

Higher resistance level – $ 0.3280


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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .


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