RATE Group | Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Diving
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Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Diving

19 Nov Ripple (XRP) Price Trend Overwhelmingly Negative, Bitcoin Diving

Posted at 05:01h in Bitcoin News by

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  • Ripple price is declining and trading below the $0.2560 pivot level against the US dollar.
  • Bitcoin is down more than 3% today and Ethereum broke a major support near $178.
  • There is a new connecting bearish trend line forming with resistance near $0.2530 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price tumbled recently and tested the $0.2400 support area.

Ripple price is trading in a crucial downtrend against the US Dollar, while bitcoin is approaching $8K. XRP price is likely to struggle near the $0.2560 and $0.2600 resistances.

Ripple Price Analysis

After forming an intermediate top near the $0.2660 level, ripple declined heavily against the US Dollar. XRP/USD broke many key supports near $0.2560 to move further into a bearish zone.

Moreover, there was a close below the $0.2560 level and the 100 hourly simple moving average. It opened the doors for more losses and the price declined heavily below the $0.2500 level.

The recent decline gained pace below the…

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