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Ripple Price Analysis: XRP Testing Crucial Support, Bounce Incoming?

Ripple price analysis: xrp testing crucial support, bounce incoming?

Ripple Price Analysis: XRP Testing Crucial Support, Bounce Incoming?

  • Ripple price failed to break the $0.3500 resistance and declined sharply against the US dollar.
  • There was a sharp decline below the $0.3260 and $0.3120 support levels.
  • There is a significant bullish trend line formed with support at $0.3010 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The price is clearly trading above key supports and it could bounce back towards $0.3200.

Ripple price declined sharply after it was rejected near the $0.3500 zone against the US Dollar. XRP is currently testing an important support and it could bounce back towards $0.3200 and $0.3250.

Ripple Price Analysis

The past few hours turned out to be game changer for bitcoin, Ethereum, bitcoin cash, eos and ripple price against the US Dollar. Earlier, the XRP/USD pair climbed higher and traded above the $0.3260 and $0.3400 resistance levels. It tested the key $0.3500 resistance area, where sellers emerged. As a result, there was a sharp downward move and the price declined below $0.3310 and $0.3260. There was even a close below the $0.3250 support and the 55 simple moving average (4-hours).

Sellers remained in action and the price traded below the $0.3110 support. However, the decline was protected near a crucial support at $0.3000. Moreover, there is a significant bullish trend line formed with support at $0.3010 on the 4-hours chart of the XRP/USD pair. The pair traded as low as $0.3002 and it is currently correcting higher. An initial resistance is near the $0.3125 level. It coincides with the 23.6% Fib retracement level of the last drop from the $0.3515 high to $0.3002 low.

If there is an upside break above the $0.3125 resistance, the price could trade towards the $0.3250 and $0.3260 resistances. Besides, the 50% Fib retracement level of the last drop from the $0.3515 high to $0.3002 low is positioned near the $0.3258 level. Therefore, if the price corrects higher, it could face a strong barrier near the $0.3250 and $0.3260 resistances. Above $0.3260, the price could revisit the $0.3500 hurdle, which is a solid resistance.

Ripple price analysis xrp chart

Looking at the chart, ripple price is under a lot of pressure below $0.3125 and $0.3160. Having said that, the price is trading near a major support at $0.3000. Thus, there are high chances of a short-term bounce above the $0.3125 and $0.3150 levels. If there is a downside break below $0.3000, the price could decline to $0.2850.

Technical indicators

4 hours MACD – The MACD for XRP/USD is currently placed heavily in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD declined sharply and settled below the 40 level.

Key Support Levels – $0.3020, $0.3000 and $0.2850.

Key Resistance Levels – $0.3125 and $0.3260.

Tags: Ripple, XRP

Published at Mon, 25 Feb 2019 10:00:17 +0000

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Adam is interviewed about token.fm on the pilot episode of “Art on the Blockchain” with DJ $crilla and IP Attorney Cynthia Gayton

Shownotes:This is Episode 1 of ART ON THE BLOCKCHAIN with your hosts DJ J $crilla and Cynthia Gayton. In this episode we familiarize our listeners with who we are and what our aim is with the podcast. We speak to Adam B. Levine for an hour about tokensizing art, his projects Tokenly and token.fm and much more.

Art on the Blockchain News Discussed:

  1. Spotify has acquired Sonalytic, a UK start-up that uses audio identification technology to recognize songs and tracks copyright protected material. 3/7/2017news.spotify.com/us/2017/03/07/27384/

  2. Jay-Z has created, along with other related businesses, a new venture capital fund under the Roc Nation umbrella called “Arrive” to assist with branding, managing artists and representing athletes according to their press release. The team intends to work with a select group of early stage start-ups.www.prnewswire.com/news-releases/r?’-300418165.html

  3. Simon Denny, a New Zealand born and Berlin-based artist has a solo show at the Los Angeles Hammer Museum featuring the potential applications of blockchain. In this exhibit, he investigates three possible futures for the industry and created a sculpture for each. The exhibit closes on April 23, 2017.hammer.ucla.edu/exhibitions/2017/?’ects-simon-denny/

  4. Economist and film maker Manuel Stagars has released a documentary film entitled “The Blockchain and Us” this year. The film is the result of twenty interviews with people ranging from authors to futurists from five countries.www.manuelstagars.com/blockchain-documentary/

  5. There will be a Blockchain and Decentralization meetup at SXSW on March 14 from 3:30 – 4:30.schedule.sxsw.com/2017/events/PP96648

DJ J-$crilla’s Featured Project:

Discuss the Rare Pepe Trading phenomenon and it’s uses on the blockchain. We talk about artists monetizing their artwork on the blockchain and trading cards on counterparty (XCP.)

Instructions (Courtesy of @CryptoChainer)

  1. Create wallet on rarepepewallet.com
  2. WRITE PASSPHRASE DOWN, DO THIS NOW!
  3. Copy address, and send BTC for fees
  4. Send BTC to tuxexchange.com
  5. Purchase PEPECASH at tux
  6. Send PEPECASH to RPW address
  7. Buy cards, and live forever
  8. Use Book of Orbs on iOS or Android for mobile experience
  9. Existing passphrase can be used in Book of Orbs
  10. There is no #10

Rare Pepe Wallet : rarepepewallet.comRare Pepe Directory: rarepepedirectory.comReddit: www.reddit.com/r/pepetraders/Facebook: www.facebook.com/groups/rarepepeblockchainTelegram: t.me/rarepepegradergroupGame Website: rarepepe.partyOfficial Wallet: rarepepewallet.comA Gallery of Rares: rarepepe.galleryCentralized Pepe Auction House: pepeauctions.comPepecash Exchange: tuxexchange.com/trade?coin=PEPECASH&market=BTCAndroid/iOS Pepe Wallet: bookoforbs.com

Recorded at One Love Massive Headquarters in Washington DCEngineer: DJ Mike Phillipz

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