{"id":11674,"date":"2022-11-10T05:52:39","date_gmt":"2022-11-10T09:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11674"},"modified":"2022-11-10T05:52:39","modified_gmt":"2022-11-10T09:52:39","slug":"xrp-price-prediction-why-the-bulls-could-protect-this-crucial-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/10\/xrp-price-prediction-why-the-bulls-could-protect-this-crucial-support\/","title":{"rendered":"XRP Price Prediction: Why The Bulls Could Protect This Crucial Support"},"content":{"rendered":"

XRP price started a major decline from the $0.50 resistance against the US Dollar. The recent collapse of FTX and FTT sparked a sharp move towards the $0.32 support.<\/em><\/p>\n

Ripple is down over 15% and there was a drop below the $0.40 support against the US dollar.
\nThe price is trading well below $0.4000 and the 100-day simple moving average.
\nThere was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if the bulls remain active near the $0.32 support.<\/p>\n

Ripple\u2019s XRP Price Tests Key Support<\/h2>\n

In the past 3-4 days, the crypto market saw a major decline. Bitcoin<\/a>, ethereum<\/a>, ftt, bnb, and sol saw a substantial decline. Ripple\u2019s XRP price also faced the heat and declined heavily from the $0.50 resistance zone.<\/p>\n

There was a clear move below the $0.450 and $0.40 support levels. Besides, there was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP\/USD pair. The pair dropped below the $0.350 support and tested a crucial support at $0.320.<\/p>\n

A low is formed near the $0.320 level and the price is now consolidating losses. XRP is now trading well below $0.4000 and the 100-day simple moving average.<\/p>\n

An immediate resistance is near the $0.3650 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 low. The first major resistance is seen near the $0.380 level, above which the price might recover towards the $0.415 level and the 100-day simple moving average.<\/p>\n

<\/a><\/p>\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

The 50% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 low is also near $0.415. A clear break above the $0.415 resistance could open the doors for a sharp increase towards the $0.5000 resistance. The next major resistance above the $0.5000 level could be near the $0.5200 level.<\/p>\n

Dips Supported?<\/h2>\n

If ripple fails to clear the $0.380 resistance, it could start a fresh decline. An initial support on the downside is near the $0.3400 level.<\/p>\n

The main support could be near the $0.3200 level or the $0.3000 zone. If the price fails to stay above $0.3000, it could start another major decline.<\/p>\n

Technical Indicators<\/p>\n

Daily MACD \u2013 The MACD for XRP\/USD is now losing momentum in the bearish zone.<\/p>\n

Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.3400, $0.3200 and $0.3000.<\/p>\n

Major Resistance Levels \u2013 $0.3650, $0.3800 and $0.4150.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

XRP price started a major decline from the $0.50 resistance against the US Dollar. The recent collapse of FTX and FTT sparked a sharp move towards the $0.32 support.<\/em><\/p>\n

Ripple is down over 15% and there was a drop below the $0.40 support against the US dollar.
\nThe price is trading well below $0.4000 and the 100-day simple moving average.
\nThere was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if the bulls remain active near the $0.32 support.<\/p>\n

Ripple\u2019s XRP Price Tests Key Support<\/h2>\n

In the past 3-4 days, the crypto market saw a major decline. Bitcoin<\/a>, ethereum<\/a>, ftt, bnb, and sol saw a substantial decline. Ripple\u2019s XRP price also faced the heat and declined heavily from the $0.50 resistance zone.<\/p>\n

There was a clear move below the $0.450 and $0.40 support levels. Besides, there was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP\/USD pair. The pair dropped below the $0.350 support and tested a crucial support at $0.320.<\/p>\n

A low is formed near the $0.320 level and the price is now consolidating losses. XRP is now trading well below $0.4000 and the 100-day simple moving average.<\/p>\n

An immediate resistance is near the $0.3650 level. It is close to the 23.6% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 low. The first major resistance is seen near the $0.380 level, above which the price might recover towards the $0.415 level and the 100-day simple moving average.<\/p>\n

<\/a><\/p>\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

The 50% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 low is also near $0.415. A clear break above the $0.415 resistance could open the doors for a sharp increase towards the $0.5000 resistance. The next major resistance above the $0.5000 level could be near the $0.5200 level.<\/p>\n

Dips Supported?<\/h2>\n

If ripple fails to clear the $0.380 resistance, it could start a fresh decline. An initial support on the downside is near the $0.3400 level.<\/p>\n

The main support could be near the $0.3200 level or the $0.3000 zone. If the price fails to stay above $0.3000, it could start another major decline.<\/p>\n

Technical Indicators<\/p>\n

Daily MACD \u2013 The MACD for XRP\/USD is now losing momentum in the bearish zone.<\/p>\n

Daily RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.3400, $0.3200 and $0.3000.<\/p>\n

Major Resistance Levels \u2013 $0.3650, $0.3800 and $0.4150.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11674","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11674"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11674\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}