Key Highlights
- Ripple price is currently under a lot of pressure and is currently trading below $1.70 against the US Dollar.
- There is a short-term bearish trend line forming with resistance at $1.7050 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is currently correcting higher, but it faces a lot of barriers on the upside such as $1.70 and $1.80.
Ripple price is in a downtrend against the US Dollar and Bitcoin. XRP/USD is likely to remain in the bearish zone as long as it is below $1.90.
Ripple Price Trend
There was a lot of pressure on Ripple price as it failed to remain above the $2.00-2.10 support against the US Dollar. The price declined and it recently moved below the $1.80 support area. The decline was severe as the $1.70 support also failed to prevent declines. XRP kept declining and even traded as few points below the $1.50 level. It traded as low as 1.4839 and is currently correcting higher.
It has moved above the 23.6% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low. The current upside wave is corrective and it faces a lot of hurdles below $2.00. There is also a short-term bearish trend line forming with resistance at $1.7050 on the hourly chart of the XRP/USD pair. The trend line resistance is near the 38.2% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low. Therefore, it won’t be easy for buyers to break the $1.7000.1.7050 levels.
Above the mentioned $1.7050, the 100 hourly simple moving average is at $1.90. The stated $1.90 level coincides with the 61.8% Fib retracement level of the last decline from the $2.0796 high to $1.4839 low.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently around the oversold levels.
Major Support Level – $1.50
Major Resistance Level – $1.90
Charts courtesy – Trading View, Kraken
zubair choudhary 
Paul 
sandy ms 
Marc Leal 
Joe 
Samuel Tzadok 
Richard 913 
Shiva Sharma 
Priyank J Rana 
Nik Affendi Nik Mahmood 
What do you think about Ripple Price drop, how far is it going to go?
The author knows nothing, like most of us. Now trading at $1.43.
“Therefore, it won’t be easy for buyers to break the $1.7000.1.7050 levels.”
Will it increase or decrease
This guy is a spook and complete idiot.
I own and operate a multi-million dollar IT firm which specializes in cyber security. We work with publicly traded companies to improve security posture in their respective technological environments. We have a perfect record when it comes to cyber-security audits and assessments when aligned amongst the most respected ethical hacking firms in the United States. Goes to say, our team has some insight that some economists might not have. I would like to add, almost a dozen of our employees are invested in Ripple.
This day in age, there are firm expectations and requirements when it comes to digital conveyance of sensitive and or valuable assets. I have personally conducted extensive research on the most popular digital currencies and believe Ripple, unlike others, has clearly demonstrated their commitment to regulation and efficiency.
I have a few theories but prefer to share a moderate viewpoint. The Ethereum blockchain and some related currencies will encounter several challenges this year, however, I expect Ethereum will be a significant player for years to come. From a technological standpoint, Ripple’s infrastructure outperforms that of any competitor by far. They have also demonstrated their ability to engage in significant business deals with some major players.
Many have questioned the large supply of escrowed XRP, calling it “shady”. Considering their potential hold, I think Ripple is conservative and selfless. I believe Ripple needs to stay committed to a “humble attitude”, as their success depends on it. Almost always, every new concept experiences a discovery phase prior to adoption. In this particular case, I believe the majority of Ripple’s entire supply will soon be committed to enterprise, at a negotiated price of course. This will leave investors with an extremely narrow window to buy in. To sum it up, the mysterious escrow supply will be consumed by banks, corps, and then the price will spontaneously skyrocket beyond anything we’ve experienced.
Supporting ideas-
-total cross border transfer of capital per year: (not including untapped regions where current solutions have no range yet XRP could have reach / low cost attainability).
-Deals have been signed but no change in supply….hmmm…
-Less than $100B XRP in supply.
-Volume: $156.6T+ per year in cross boarder transfers
Benefit: Security / Accountability / Cost / Regulatory / Efficiency competitor
=potential???
Marco Leal Pres/CEO Loyal IT, Inc.
Marc, i have the same belief, hence my investment in Ripple and I believe this year we will see a lot of changes across the board with Crypto. However, it is rather strange to see this huge drop in price even though Ripple seems to be getting new business (eg MoneyGram).
We will see.
It will break $2.50 by tomorrow night U.S. CST. If I’m wrong, disregard my previous assessment.
mark based on what facts?
Read Marcs previous post
What fact did Aayush have other than a contested trend to report about? Ripple has signed other deals that have yet to make it to western media. South Korean banks for instance. I believe they are stalling press as much as it hurts to allow other deals to come to fruition. I’ve been watching the supply since Amex signing. Why did supply not change then and why was price not affected??? They have to be making deals with escrow. The only question is, what’s left?
Marc, you are leading me to conclude, that Amex and other corps aligining with XRP are still “positioning” their base, which is having an additional positive displacement effect for them in acquisition process. Meaning…now that terms of deal are in place and Amex is abiding to contract, wouldnt Amex be aquiring public supply also during this N.K sell off?
So Marc according to you Tomorrow we all will trade at $2.50??? Are you sure bro.. cuz now figure are telling a whole different story
so I guess you are wrong
Yes sir. Egg on my face for sure. It was a painful ride down but I still have know doubt XRP will prevail. Best of luck to you all.
Ripple is going south until all the weak holders sell out.After that it will resume the uptrend albeit slow and steady