Ripple XRP Price Analysis: Chart structure seems to be pointing to lower levels
|- Ripple trades 1.85% lower and breaks the psychological 0.19 barrier.
- The price has moved below the major moving averages on the hourly chart.
XRP/USD daily chart
XRP/USD is trading lower with the chart structure looking pretty bearish. There is a trendline that needs to break if the bears are to take charge but it is not the strongest as it has only two touches. If 0.18 breaks to the downside, The price is also trading under the 200 and 55 moving averages which adds to the bearish woes.
The technical indicators are also looking bearish. The Relative Strength Index is under the 50 line and nearly in the oversold area. The MACD histogram is under the zero line in the red and signal lines are also under the mid-point, so it seems all signs are lower.
-637280973259528484.png){kind=link}
XRP/USD 1-hour chart
The 1-hour chart is confirming the bearish picture but there is an important support that needs to be broken. The black trendline at 0.1883 would make a lower high lower low on the hourly chart. There has been a big sell-off on the previous candle and if the momentum continues lower levels could be in the horizon.
 (1)-637280974860144349.png){kind=link}
Additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.