RATE Group | Ripple (XRP) Turned Sell On Rallies, BTC & ETH Dragging Market Lower
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Ripple (XRP) Turned Sell On Rallies, BTC & ETH Dragging Market Lower

03 Jan Ripple (XRP) Turned Sell On Rallies, BTC & ETH Dragging Market Lower

Posted at 07:10h in Ethereum News by

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  • Ripple is down more than 2% and it broke the $0.1880 support against the US dollar.
  • XRP price is now trading near the $0.1840 support area and it could correct higher.
  • There is a key bearish trend line forming with resistance near $0.1920 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • Ethereum is also down 2% and it might continue to decline towards the $120 support.

Ripple price is gaining bearish momentum below $0.1920 against the US Dollar, similar to bitcoin. XRP might slide further if it breaks the $0.1840 support.

Ripple Price Analysis

Yesterday, we discussed the chances of a larger breakout in ripple if it breaks $0.2000 against the US Dollar. However, XRP price failed to gain strength above $0.1950 and $0.2000.

As a result, there was a fresh decline and the price broke the key $0.1920 and $0.1900 support levels. Moreover, there was a close below $0.1900 and the 100 hourly simple moving average.

Finally, the price traded below $0.1880 and tested the $0.1840…

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