{"id":27282,"date":"2023-08-22T05:59:26","date_gmt":"2023-08-22T05:59:26","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/22\/xrp-price-shows-confluence-of-bearish-factors-and-could-decline-again\/"},"modified":"2023-08-22T05:59:26","modified_gmt":"2023-08-22T05:59:26","slug":"xrp-price-shows-confluence-of-bearish-factors-and-could-decline-again","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/22\/xrp-price-shows-confluence-of-bearish-factors-and-could-decline-again\/","title":{"rendered":"XRP Price Shows Confluence Of Bearish Factors and Could Decline Again"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Ripple\u2019s token value is displaying bearish indicators under $0.580 in opposition to the US Dollar. XRP value might begin one other decline if it trades under $0.480.<\/em><\/p>\n<ul>\n<li>Ripple\u2019s token value is struggling to get well above $0.550 and $0.580 in opposition to the US greenback.<\/li>\n<li>The value is now buying and selling under $0.56 and the 100 easy shifting common (4 hours).<\/li>\n<li>There is a serious bearish development line forming with resistance close to $0.580 on the 4-hour chart of the XRP\/USD pair (knowledge supply from Kraken).<\/li>\n<li>The pair may begin one other decline if there&#8217;s a break under $0.480.<\/li>\n<\/ul>\n<h2>Ripple\u2019s Token Price Faces Uphill Task<\/h2>\n<p>After a serious decline to $0.40, Ripple\u2019s XRP began an upside correction in opposition to the US Dollar. The value recovered a number of factors above the $0.45 and $0.48 resistance ranges, much like <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26500\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> and <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-selling-interest-1700\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a>.<\/p>\n<p>The bulls pushed the worth above the 50% Fib retracement stage of the primary decline from the $0.6654 swing excessive to the $0.3995 low. The value climbed above the $0.50 stage. However, the bears are lively close to the $0.550 resistance zone.<\/p>\n<p>XRP is now buying and selling under $0.56 and the 100 easy shifting common (4 hours). There can be a serious bearish development line forming with resistance close to $0.580 on the 4-hour chart of the XRP\/USD pair.<\/p>\n<p>Initial resistance on the upside is close to the $0.550 zone. The subsequent main resistance is close to the $0.565 stage or the 61.8% Fib retracement stage of the primary decline from the $0.6654 swing excessive to the $0.3995 low. The principal resistance is now forming close to the $0.580 zone and the development line.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-548319\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468\" alt=\"XRP Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/XRP_Price-2.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" target=\"_blank\" rel=\"noopener\">XRPUSD on TradingView.com<\/a><\/p>\n<p>A profitable break above the $0.580 resistance stage may ship the worth towards the $0.60 resistance or the 100 easy shifting common (4 hours). Any extra good points may name for a check of the $0.6650 resistance.<\/p>\n<h2>Another Drop in XRP?<\/h2>\n<p>If ripple fails to clear the $0.565 resistance zone, it might begin one other decline. Initial assist on the draw back is close to the $0.500 zone.<\/p>\n<p>The subsequent main assist is close to $0.480. If there&#8217;s a draw back break and a detailed under the $0.480 stage, XRP\u2019s value might prolong losses. In the said case, the worth might retest the $0.400 assist zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for XRP\/USD is now dropping tempo within the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now under the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $0.50, $0.480, and $0.40.<\/p>\n<p>Major Resistance Levels \u2013 $0.550, $0.565, and $0.580.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/xrp\/xrp-price-bearish-factors-0-58\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Ripple\u2019s token value is displaying bearish indicators under $0.580 in opposition to the US Dollar. XRP value might begin one other decline if it trades under $0.480. Ripple\u2019s token value is struggling to get well above $0.550 and $0.580 in opposition to the US greenback. The value is now buying and selling under $0.56 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