Ripple Price Analysis: Sellers Dominate Under $0.80 - Forex News by FX Leaders
Ripple - XRP/USD Chart

Ripple Price Analysis: Sellers Dominate Under $0.80

Posted Monday, January 17, 2022 by
Arslan Butt • 1 min read
  • A close above the $0.8000 level might send the price up to the $0.8500 mark
  • Ripple fell rapidly below $0.7500 and the 55-day simple moving average (4-hours)
  • According to the chart, the price of Ripple is currently trading below $0.7800 and the 55 simple moving average (4-hour)
After failing to break beyond the $0.8650 level, the ripple price began a new fall against the US dollar. The XRP/USD pair dropped below the $0.8500 support level, entering a bearish zone.

Ripple Live Rate

 

XRP/USD
The pair fell rapidly below $0.7500 and the 55-day simple moving average (4-hour). The pair has corrected higher after trading as low as $0.6986. Above the $0.7500 level, there was a recovery wave. The bulls drove the price above the 50% Fib retracement level of the decline from a high of $0.8650 to a low of $0.6986.On the 4-hour timeframe for the XRP/USD pair, there was also a break over a significant negative trend line, with resistance above $0.7600. The pair is currently trading below $0.7800 and the 55-day simple moving average (4-hour).

On the upside, the price is encountering resistance near $0.7800. The next major resistance is located near the $0.8000 level. It is approaching the 61.8 percent Fib retracement level of the decline from the upswing to $0.8650, to the low of $0.6986.

Ripple - XRP/USD Chart

A close above the $0.8000 level might send the price up to the $0.8500 mark. The next big resistance is located near $0.9500. Any further rises could push the price up to the $1.00 mark.

If there is no upward break over $0.8000, the price may resume its downward trend. The next major support mark is at $0.7350. Any further losses could push the price down to $0.7000 in the short term.

According to the chart, the price of Ripple is currently trading below $0.7800 and the 55 simple moving average (4-hour). Overall, if the price remains below the $0.8000 resistance, it may continue to fall. Good luck!

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