XRP Price Crashes Over 20%, Why Breakdown Looks Real Deal

Name	Symbol	Market	Market Cap ($)	Algorithm
Internet Computer	ICPUSD	Crypto	4,317,987,043	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Internet Computer

ICPUSD

Crypto

4,317,987,043

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.300	-3.08%	9.44	9.44	9.45

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.300

-3.08%

9.44

9.45

High Price	Low Price	Open Price	Prev. Close	52 Week Range
9.85	9.26	9.75	9.74	2.81 - 20.96

High Price

Low Price

Open Price

Prev. Close

52 Week Range

9.85

9.26

9.75

9.74

2.81 - 20.96

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:37:32	55.42	9.44	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:37:32

55.42

9.44

USD

Price x Volume	Volume	Base Symbol	Related Pairs
4,720,649.75	492,567.85	ICP	ICPEUR	ICPGBP	ICPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

4,720,649.75

492,567.85

XRP Price Crashes Over 20%, Why Breakdown Looks Real Deal

18/08/2023 5:28am

NEWSBTC

Ripple’s token price is down over 20% against the US Dollar. XRP price is gaining bearish momentum and might revisit the $0.40 zone. Ripple’s token price is moving lower from the $0.620 resistance against the US dollar. The price is now trading below $0.55 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.585 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might continue to decline toward the $0.42 and $0.40 levels. Ripple’s Token Price Plunges To $0.40 After struggling to rise above the $0.65 resistance, Ripple’s XRP started a fresh decline against the US Dollar. There was a strong decline below the $0.550 support zone, similar to Bitcoin and Ethereum. The price is down over 20% and there was even a spike below $0.420. A low is formed near $0.3994 and the price is now attempting a recovery wave. There was a wave above the $0.45 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6365 swing high to the $0.3994 low. XRP is now trading below $0.55 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.585 on the 4-hour chart of the XRP/USD pair. Initial resistance on the upside is near the $0.520 zone. It is close to the 50% Fib retracement level of the downward move from the $0.6365 swing high to the $0.3994 low. The next major resistance is near the $0.550 level. The main resistance is now forming near the $0.585 zone and the trend line. Source: XRPUSD on TradingView.com A successful break above the $0.585 resistance level might send the price toward the $0.62 resistance or the 100 simple moving average (4 hours). Any more gains might call for a test of the $0.650 resistance. Another Decline in XRP? If ripple fails to clear the $0.550 resistance zone, it could start another decline. Initial support on the downside is near the $0.480 zone. The next major support is near $0.455. If there is a downside break and a close below the $0.455 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.400 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.48, $0.455, and $0.400. Major Resistance Levels – $0.520, $0.550, and $0.585.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ICPUSD Internet Computer