Ripple price analysis: XRP crashes by 15%, will you hold 1 USD?
Ripple price analysis: XRP crashes by 15%, will you hold 1 USD?
key support level: $ 1; 0.96 $
key resistance level: $ 1.06; 1,2
The price of XRP fell under the descending triangle and has found support on the $ 1-dollar trend line after a sharp wick.
Today's market decided to punish the Leverage longs, and most old coins went back in two digits. XRP is no exception and recorded a decline of 15%, which quickly recovered over 1 USD at the time of this letter.
In view of the fact that XRP broke out under the blue triangle, the previous support has turned into a resistance at 1.06 USD and XRP has to climb over this level in order to return to the upward trend. Support at $ 1 holds and it is important to see how today's day candle closes. If it closes below $ 1, XRP can enter a short -term downward trend. 
Chart to Tradingview
technical indicators
trade volume: The volume of this decline was considerable, which indicates that many Leverage-Long positions were wiped out. If the volume increases when the price increases, this shows strength on the side of the bears.
rsi : The RSI quickly fell into the oversold area in the 4-hour time frame. This indicates that the majority of the correction has taken place and that future declines can have less volatility, since the sale may not be the best trade at this time.
macd : sharp repentance and declining cross-over in the 4-hour time frame. This price movement has reinforced the declining signal of the daily MacD. It is unlikely that XRP will return to the upward trend in the near future.
Chart to Tradingview
bias
The short -term tendency is bearish. This has to be re -evaluated as soon as today's day candle closes. A fixed closing course below $ 1 would bring XRP to a path to lower levels.
short-term prediction for the XRP price
It is best to wait for the price movement and volatility to let go before you enter into a Position. In the near future, the XRP Prize could increase around the $ 1 brand and offer good entry opportunities around the top $ 0.90 brand, where local support is found.
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