{"id":9035,"date":"2018-04-12T08:53:39","date_gmt":"2018-04-12T08:53:39","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=9035"},"modified":"2020-02-19T01:52:38","modified_gmt":"2020-02-18T23:52:38","slug":"ripple-price-analysis-xrp-usd-made-double-top","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/ripple-price-analysis-xrp-usd-made-double-top\/","title":{"rendered":"Ripple Price Analysis: XRP\/USD Made Double Top?"},"content":{"rendered":"<p><em>Ripple price traded higher but failed near the $0.5530 level against the US Dollar. XRP\/USD likely made a double top pattern and it could decline short term.<\/em><\/p>\n<p><strong>Key Talking Points<\/strong><\/p>\n<ul>\n<li>Ripple price traded higher recently, but it could not break the $0.5530 resistance against the US Dollar.<\/li>\n<li>There is a major bullish trend line forming with support at $0.4900 on the 2-hours chart of the XRP\/USD pair (Data feed via Bitstamp).<\/li>\n<li>The pair may perhaps find support on the downside near the $0.4950 and $0.4900 levels.<\/li>\n<\/ul>\n<h2>Ripple Price Forecast<\/h2>\n<p>During the past few sessions, there was a rise above the $0.4800 level in Ripple price against the US Dollar. The XRP\/USD pair surged higher and traded above the $0.4950, $0.5250 and $0.5300 resistance levels.<\/p>\n<p>However, the upside move was capped by the $0.5530 level. The stated level $0.5530 prevented gains earlier as well, which means the price was rejected twice recently from the $0.5530 level.<\/p>\n<p><a href=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-9036\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1-1024x520.png\" alt=\"Ripple Price Analysis XRP USD\" width=\"1024\" height=\"520\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1-1024x520.png 1024w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1-300x152.png 300w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1-770x391.png 770w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/04\/Ripple_Price_Chart-1.png 1822w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p>It seems like a double top pattern is forming near $0.5530 and the price may decline in the short term. It has already broke the 50% Fib retracement level of the last leg from the $0.4743 low to $0.5562 high.<\/p>\n<p>At the moment, a pivot zone near $0.5080 is acting as a support. Moreover, the 61.8% Fib retracement level of the last leg from the $0.4743 low to $0.5562 high is also acting as a support at $0.5056.<\/p>\n<p>Should there be a downside break below $0.5056, the price may test the 100 simple moving average (2-hours) at $0.4950. There is also a major bullish trend line forming with support at $0.4900 on the 2-hours chart of the XRP\/USD pair.<\/p>\n<p>As long as the price is above the 100 simple moving average (2-hours) at $0.4950, there is a chance that XRP might bounce back. However, a downside break below $0.4950 may ignite further losses towards the $0.4500 level in the near term.<\/p>\n<p>On the upside, the $0.5500, $0.5530 and $0.5560 levels are major hurdles for an upside continuation in ripple price.<\/p>\n<p><em>Trade safe traders and do not overtrade!<\/em><\/p>\n<p>*<em>The market data is provided by\u00a0<a href=\"https:\/\/www.tradingview.com\/markets\/cryptocurrencies\/?utm_source=cointelegraph&amp;utm_medium=sponsored&amp;utm_campaign=marketdata\" target=\"_blank\" rel=\"nofollow,noopener noopener noreferrer\">TradingView<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple price traded higher but failed near the $0.5530 level against the US Dollar. XRP\/USD likely made a double top pattern and it could decline short term. Key Talking Points Ripple price traded higher recently, but it could not break the $0.5530 resistance against the US Dollar. There is a major bullish trend line forming with support at $0.4900 on the 2-hours chart of the XRP\/USD pair (Data feed via Bitstamp). The pair may perhaps find support on the downside [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":9036,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4656],"tags":[188,111,84],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/9035"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=9035"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/9035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/9036"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=9035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=9035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=9035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}