Ripple price extended declines against the US Dollar and Bitcoin. XRP/USD is currently testing $0.2200 and struggling to hold the stated level.
There were further losses in Ripple price from the $0.2400 swing high against the US Dollar. The price slowly and steadily moved down below the $0.2350 and $0.2300 support levels. It traded close to the $0.2200 level and formed a low at $0.2190. Later, there was an upside correction and the price moved above the 23.6% Fib retracement level of the last decline from the $0.2600 high to $0.2190 low.
However, the upside move was capped by the $0.2350 resistance. Moreover, the 38.2% Fib retracement level of the last decline from the $0.2600 high to $0.2190 low also acted as a resistance. XRP declined once again and is currently trading near the $0.2200 support area. On the upside, yesterdayâs highlighted major bearish trend line with current resistance at $0.2400 is intact on the hourly chart of the XRP/USD pair. The trend line resistance at $0.2400 is also around the 100 hourly simple moving average.
Therefore, the $0.2350 and $0.2400 levels are important resistances on the upside. As long as the price is below the $2400, there can be more declines in XRP/USD in the short term.
Looking at the technical indicators:
Hourly MACD â The MACD for XRP/USD is gaining pace in the bearish zone and is showing a lot of negative signs.
Hourly RSI (Relative Strength Index) â The RSI for XRP/USD is now below the 40 level and is in the bearish zone.
Major Support Level â $0.2200
Major Resistance Level â $0.2400
Charts courtesy â Trading View, Kraken
Sia Network Releases Hard Fork Code to Block Crypto Mining Giants
The sia blockchain network has released the formal code for an imminent hard fork that will block miners using hardware produced by Bitmain and other major manufacturers.
David Vorick, founder and
North Korean Hacking Group Lazerus Stole $571 Million in Cryptos: Report
North Korea's infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates.
According to an article published Friday by The Next
Bitcoin's Price Breaks Through Key Support As Stocks Go South
Bitcoin (BTC) has dropped out of the tight trading range seen recently, paralleling losses in the U.S. stock markets.
The leading cryptocurrency, which was trapped in a triangle pattern (narrowing
Chip Maker TSMC Forecasts Weaker Crypto Mining Demand in Q4
Chip-making giant Taiwan Semiconductor Manufacturing Company (TSMC) has predicted weak demand for processors from cryptocurrency miners for the fourth quarter.
TSMC, the primary supplier for crypto
Crypto Exchange Huobi Now Lets Users Swap Between 4 Different Stablecoins
Huobi, the Singapore-based cryptocurrency exchange, has just launched a new solution that enables users to switch between different types of fiat currency-pegged cryptocurrencies, or stablecoins, in e
Bitcoin Price Eyes Triangle Breakout Above $6.4K
Bitcoin (BTC) is again trading in a narrowing price range above $6,400, but the lateral trading may soon give way to a rally, according to technical studies.
The price consolidation comes after Mon
Security firm G4S Has Launched a Crypto Custody Service
U.K.-based security services company G4S now offers a crypto custody service aimed to protect investors' holdings of digital assets.
Announcing the move in a press release on Oct. 16, the firm said
Gates Foundation Partners With Former Ripple CTO's Blockchain Project
The Bill and Melinda Gates Foundation has partnered with blockchain startup Coil as part of its mission to provide payment services for the unbanked.
The news comes via a tweet from Miller Abel, th