Ripple Price Forecast: XRP explores downstream levels amid the hunt for higher support

By John Isige
Published March 25, 2021 Updated March 25, 2021
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Ripple Price Forecast: XRP explores downstream levels amid the hunt for higher support

By John Isige
Published March 25, 2021 Updated March 25, 2021
  • Ripple rejected at the resistance between $0.55 and $0.6, resulting in declines to $0.45.
  • The MACD has reinforced the downtrend following the dip to the zero line on the 4-hour chart.

Ripple made an about-turn move following the failure to sustain gains above $0.55. Initially, the cross-border token had stepped above $0.6, but again the momentum lost steam, opening the door for the ongoing declines.

The freefall intensified, with XRP losing more than 12% in 24 hours. Several support levels were shattered, including $0.55 and $0.5. On the downside, $0.45 is functioning as the crucial support area in the short term.

Ripple needs to hold the ground above the 100 Simple Moving Average (SMA) and the 200 SMA on the 4-hour chart to remove excess pressure on the level around $0.45. Otherwise, losses eyeing -$0.4 and $0.35 are likely to come into the picture.

The bearish outlook has been validated by the Moving Average Convergence Divergence (MACD) indicator’s negative gradient. More sell orders will be triggered if the MACD falls into the negative territory. Besides, the least resistance path is still downwards based on the MACD line (blue) crossing under the signal line.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

It is worth mentioning that the pessimistic outlook will be invalidated if the support at $0.45 holds firmly and bulls force a trend reversal above $0.5. Price action past the 50 SMA on the 4-hour chart may trigger buy orders as investors speculate the rise to $0.65.

Ripple intraday levels

Spot rate: $0.48

Support: $0.45

Resistance: $0.5 and $0.55

Trend: Bearish

Volatility: Expanding

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1154 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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