RATE Group | Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K
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Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K

22 Nov Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Dives To $7.5K

Posted at 05:26h in Bitcoin News by

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  • Ripple price is down 5% and it broke the key $0.2420 support area against the US dollar.
  • The price tagged the $0.2350 support area and it is currently correcting higher.
  • There is a new bearish trend line forming with resistance near $0.2450 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price remains at a risk of more losses as long as it is below $0.2580.

Ripple price is now trading below key supports against the US Dollar and bitcoin. XRP price might continue to face sellers near the $0.2480 and $0.2500 resistance levels.

Ripple Price Analysis

In the past three sessions, there was a sharp decline in bitcoin price below the $7,800 support, resulting in a downward push in ripple and Ethereum against the US Dollar. XRP/USD failed to stay above the $0.2450 and $0.2420 support levels, and declined heavily.

Moreover, the price broke the $0.2400 support area and settled well below the 100 hourly simple moving average. Finally, the price tested the $0.2350 support area…

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