{"id":389604,"date":"2019-07-12T04:08:25","date_gmt":"2019-07-12T04:08:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=389604"},"modified":"2024-06-11T13:14:05","modified_gmt":"2024-06-11T13:14:05","slug":"ripple-price-xrp-could-underperform-recovery-could-face-hurdles","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple-price-xrp-could-underperform-recovery-could-face-hurdles\/","title":{"rendered":"Ripple Price (XRP) Could Underperform: Recovery Could Face Hurdles"},"content":{"rendered":"
Ripple price is currently under a lot of pressure against the US Dollar and bitcoin<\/a>. XRP price might recover towards the $0.3460 level, but later it could resume its slide.<\/em><\/p>\n Recently, there was a sharp decline in bitcoin<\/a>, Ethereum<\/a> and ripple against the US Dollar. XRP\/USD declined heavily below the $0.3800 and $0.3500 support levels. It opened the doors for more losses below the $0.3460 support level. Moreover, the price even broke the $0.3200 support and the 100 hourly simple moving average. Finally, the price traded close to the $0.3000 level and a new monthly low was formed near the $0.3035.<\/p>\n Recently, there was an upside correction above the $0.3150 and $0.3200 levels. The price climbed above the 50% Fib retracement level of the recent decline from the $0.3626 high to $0.3035 low. However, the upward move was capped by the $0.3400 level. Besides, there is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP\/USD pair.<\/p>\n The 61.8% Fib retracement level of the recent decline from the $0.3626 high to $0.3035 low also acted as a hurdle recently. It seems like ripple price might correct higher above the $0.3320 resistance area. However, the bulls are likely to face a strong resistance near the $0.3400 or $0.3460 level. The main resistance on the upside is near the $0.3750 level and the 100 hourly simple moving average.<\/p>\n On the other hand, if the price fails to correct above $0.3400 or $0.3460, there could be a fresh decline. An immediate support is near the $0.3180 level. If there is a downside break below $0.3180, the price is likely to revisit the $0.3030 or $0.3000 level.<\/p>\nRipple Price Analysis<\/h2>\n