YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Can XRP Continue To Outperform Bitcoin?

October 13, 2022
in Bitcoin
Reading Time: 2 mins read
A A
Ethereum Price at Make-or-Break Levels, Rally Remains Attractive To Sellers
ShareShareShareShareShare

You might also like

Bitcoin Weekly Momentum Crosses Bearish For First Time In 2023

Bitcoin Weekly Momentum Crosses Bearish For First Time In 2023

June 5, 2023
Binance Exposed For Allegedly Controlling U.S. Affiliate’s Bank Accounts

Binance Exposed For Allegedly Controlling U.S. Affiliate’s Bank Accounts

June 5, 2023

Ripple struggled to clear the $0.550 resistance against the US Dollar. XRP price is now moving lower and might drop further similar to bitcoin.

  • Ripple faced a strong selling interest near the $0.55 zone against the US dollar.
  • The price is now trading below $0.500 and the 100 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could decline heavily if there is a clear move below the $0.4650 support.

Ripple’s XRP Price Starts Decline

This past week, ripple’s XRP started a steady increase from the $0.4500 support zone. There was a clear move above the $0.480 and $0.505 resistance levels.

The price climbed above the $0.520 resistance, outperforming bitcoin and ethereum’s ether. However, the bulls failed once again to clear the key $0.550 resistance zone. A high was formed near $0.5486 and the price started a fresh decline.

XRP price declined below the $0.52 and $0.50 support levels. There was a move below the 50% Fib retracement level of the upward move from the $0.4417 swing low to $0.5486 high.

Besides, there was a break below a key bullish trend line with support near $0.4940 on the 4-hours chart of the XRP/USD pair. The price is now trading below $0.500 and the 100 simple moving average (4-hours).’

Source: XRPUSD on TradingView.com

On the upside, the price is facing resistance near the $0.4825 level. The first major resistance is near the $0.500 zone. A successful break above the $0.50 and $0.505 resistance levels could spark another rally. The next key resistance is near the $0.520 level, above which the bulls are likely to aim a retest of the $0.55 barrier.

Downside Break in XRP?

If ripple fails to start a fresh increase above the $0.50 level, it could continue to move down. An initial support on the downside is near the $0.465 level. It is near the 61.8% Fib retracement level of the upward move from the $0.4417 swing low to $0.5486 high.

If there is a downside break and close below the $0.465 level, xrp price could start a major decline. In the stated case, the price is likely to drop towards the $0.42 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.465, $0.42 and $0.405.

Major Resistance Levels – $0.485, $0.505 and $0.550.

Credit: Source link

Related Stories

Bitcoin Weekly Momentum Crosses Bearish For First Time In 2023
Bitcoin

Bitcoin Weekly Momentum Crosses Bearish For First Time In 2023

June 5, 2023
Binance Exposed For Allegedly Controlling U.S. Affiliate’s Bank Accounts
Bitcoin

Binance Exposed For Allegedly Controlling U.S. Affiliate’s Bank Accounts

June 5, 2023
Apple’s new Vision Pro MR debuts to a global audience
Bitcoin

Apple’s new Vision Pro MR debuts to a global audience

June 5, 2023
Neutronpay And BitcoinVN To Host Lightningcon Vietnam, Asia’s First Bitcoin And Lightning Conference
Bitcoin

Bitcoin 2023 Was A Demonstration Of The Bitcoin Community’s Resilience And Optimism

June 5, 2023
Next Post

FRB Vice Chair for Supervision Says Crypto Regulation Needs to "Strike the Right Balance"

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

Uniswap scam alert: Fraudsters impersonate executives and create fake website – Cointelegraph

June 3, 2023
Will Introduction of Cold Wallet Drive Price Momentum?

Will Introduction of Cold Wallet Drive Price Momentum?

May 30, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 25,758.00 4.42%
    • ethereumEthereum (ETH) $ 1,813.62 3.33%
    • tetherTether (USDT) $ 1.00 0.15%
    • bnbBNB (BNB) $ 276.86 8.37%
    • usd-coinUSD Coin (USDC) $ 0.999653 0.02%
    • xrpXRP (XRP) $ 0.510114 3.79%
    • staked-etherLido Staked Ether (STETH) $ 1,812.39 3.38%
    • cardanoCardano (ADA) $ 0.351253 6.48%
    • dogecoinDogecoin (DOGE) $ 0.066760 6.72%
    • solanaSolana (SOL) $ 19.94 7.83%
    • matic-networkPolygon (MATIC) $ 0.830749 6.13%
    • tronTRON (TRX) $ 0.078752 2.84%
    • litecoinLitecoin (LTC) $ 87.60 5.54%
    • polkadotPolkadot (DOT) $ 5.06 4%
    • binance-usdBinance USD (BUSD) $ 0.999483 0.06%
    • avalanche-2Avalanche (AVAX) $ 13.95 5.3%
    • shiba-inuShiba Inu (SHIB) $ 0.000008 5.71%
    • daiDai (DAI) $ 0.999750 0.05%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 25,830.00 4.14%
    • uniswapUniswap (UNI) $ 4.72 4.77%
    • leo-tokenLEO Token (LEO) $ 3.51 3.12%
    • chainlinkChainlink (LINK) $ 6.04 5.48%
    • cosmosCosmos Hub (ATOM) $ 9.97 6.97%
    • okbOKB (OKB) $ 44.78 1.59%
    • moneroMonero (XMR) $ 139.94 4.92%
    • the-open-networkToncoin (TON) $ 1.67 3.75%
    • ethereum-classicEthereum Classic (ETC) $ 17.01 5.47%
    • stellarStellar (XLM) $ 0.087996 3.23%
    • bitcoin-cashBitcoin Cash (BCH) $ 109.38 4.53%
    • true-usdTrueUSD (TUSD) $ 0.998986 0.13%
    • lido-daoLido DAO (LDO) $ 2.20 2.47%
    • internet-computerInternet Computer (ICP) $ 4.32 8.39%
    • filecoinFilecoin (FIL) $ 4.22 7.65%
    • quant-networkQuant (QNT) $ 113.24 1.8%
    • aptosAptos (APT) $ 8.05 9.33%
    • hedera-hashgraphHedera (HBAR) $ 0.048770 2.42%
    • crypto-com-chainCronos (CRO) $ 0.058474 3.48%
    • arbitrumArbitrum (ARB) $ 1.14 2.53%
    • nearNEAR Protocol (NEAR) $ 1.50 6.21%
    • vechainVeChain (VET) $ 0.018418 5.67%
    • apecoinApeCoin (APE) $ 2.88 11.22%
    • the-graphThe Graph (GRT) $ 0.115432 6.67%
    • paxos-standardPax Dollar (USDP) $ 0.999472 0.28%
    • fraxFrax (FRAX) $ 0.999094 0.03%
    • algorandAlgorand (ALGO) $ 0.136666 9.27%
    • the-sandboxThe Sandbox (SAND) $ 0.518610 11.4%
    • eosEOS (EOS) $ 0.843942 7.38%
    • elrond-erd-2MultiversX (EGLD) $ 36.17 3.89%
    • rocket-poolRocket Pool (RPL) $ 47.28 4.31%
    • optimismOptimism (OP) $ 1.40 3.23%