{"id":138768,"date":"2023-09-02T03:06:18","date_gmt":"2023-09-01T21:36:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138768"},"modified":"2023-09-02T03:06:18","modified_gmt":"2023-09-01T21:36:18","slug":"xrp-price-crashes-over-20-why-breakdown-looks-real-deal-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-price-crashes-over-20-why-breakdown-looks-real-deal-crypto-news\/","title":{"rendered":"XRP Price Crashes Over 20%, Why Breakdown Looks Real Deal &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ripple\u2019s token price is down over 20% against the US Dollar. XRP price is gaining bearish momentum and might revisit the $0.40 zone.<\/em><\/p>\n<ul>\n<li>Ripple\u2019s token price is moving lower from the $0.620 resistance against the US dollar.<\/li>\n<li>The price is now trading below $0.55 and the 100 simple moving average (4 hours).<\/li>\n<li>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).<\/li>\n<li>The pair might continue to decline toward the $0.42 and $0.40 levels.<\/li>\n<\/ul>\n<h2>Ripple\u2019s Token Price Plunges To $0.40<\/h2>\n<p>After struggling to rise above the $0.65 resistance, Ripple\u2019s XRP started a fresh decline against the US Dollar. There was a strong decline below the $0.550 support zone, similar to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nosedives-25k-2\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-negative-1500\/\">Ethereum<\/a>.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\">XRPUSD on TradingView.com<\/a><\/p>\n<p>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.<\/p>\n<h2>Another Decline in XRP?<\/h2>\n<p>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.<\/p>\n<p>The next major support is near $0.455. If there is a downside break and a close below the $0.455 level, XRP\u2019s price could extend losses. In the stated case, the price could retest the $0.400 support zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for XRP\/USD is now gaining pace in the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.48, $0.455, and $0.400.<\/p>\n<p>Major Resistance Levels \u2013 $0.520, $0.550, and $0.585.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple\u2019s token price is down over 20% against the US Dollar. XRP price is gaining bearish momentum and might revisit the $0.40 zone. Ripple\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":138769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138768"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138768\/revisions"}],"predecessor-version":[{"id":138770,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138768\/revisions\/138770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138769"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}