• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

XRP’s $0.45 is the Support Level to Watch Moving Forward – Analyst

by
December 15, 2020
in Uncategorized
0
XRP’s $0.45 is the Support Level to Watch Moving Forward – Analyst
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

XRP's $0.45 is the Support Level to Watch Moving Forward - Analyst 4

Quick take:

Related articles

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

January 17, 2021
Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

January 17, 2021
  • XRP has continued to lose value even with the success of the Flare Networks snapshot
  • XRP’s $0.50 and $0.48 support zones have been lost
  • According to MagicPoopCannon, $0.45 is the level to watch since it is the 0.618 retrace of the recent surge to $0.80
  • $0.45 is also roughly around the 16 retracement of XRP’s 2015 bear cycle
  • There is also a hidden bullish divergence on XRP’s 4-hour MACD

XRP’s Flare Networks snapshot on the 12th of December went on as planned with investors optimistic that the project will deliver on its DeFi mission as well as the airdrop of Spark Tokens (FLR) next year.

However, the price of XRP has been on a downward trajectory since posting a 2-year high of $0.80 on the 24th of November. At the time of writing, XRP is trading at $0.474 after losing both the $0.50 and $0.48 support zones.

XRP’s $0.45 is the Support Level to Watch

According to crypto analyst MagicPoopCannon, the next support level to watch is $0.45 as it coincides with the 0.618 retracement level from the recent move up, and the 16 retrace of the 2015 bear cycle.

At a minimum, I’m looking for price to retrace to the 0.44-0.45 level, which corresponds to the 61.8% retrace, as well as the 16% retrace of the 2015 bear market, which I’ve identified as an extremely important level in previous analyses. As you can see on the chart, those two levels are right on top of one another, right at the 0.45ish range.

Magic also explained that this level is significant for XRP and losing it will result in a ‘more significant decline.’

If that level breaks, I think XRP could experience a more significant decline, but as of now, I think that’s the technical price level to watch. Overall, I believe this will likely be a short to medium term consolidation before we return to the upside.

Hidden Bullish Divergence on the 4-hour MACD

With respect to the current downward trend by XRP, Magic pointed out that it was a result of a breakdown of the symmetrical triangle earlier identified. However, the 4-hour MACD offers some hope in the form of a hidden bullish divergence for XRP.

 …there is a hidden bullish divergence here on the 4 hour MACD . You can see that the MACD is forming lower lows, while price is forming higher lows (particularly regarding the lows of November 26th and December 9th.)

Below is Magic’s most recent XRP chart pointing out the hidden bullish divergence on the 4-hour MACD.

XRP's $0.45 is the Support Level to Watch Moving Forward - Analyst 3

Share76Tweet47

Related Posts

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

by
January 17, 2021
0

PRESS RELEASE. UAE-based crypto exchange Aladdin opens its platform for pre-registered users. This digital asset exchange is the newest one...

Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

by
January 17, 2021
0

While some traders have gotten mixed signals, Guggenheim's Scott Minerd is taking the long view. In an interview with Bloomberg...

DeFi’s death by a thousand cuts

DeFi’s death by a thousand cuts

by
January 17, 2021
0

They said that 2020 was the year of DeFi. Perhaps 2021 should be the year of DeFi’s sensible regulation. One...

Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

by
January 17, 2021
0

Mizuho Securities analyst Don Dolev has forecast that Paypal will earn up to $2 billion in revenue from its bitcoin...

Secure Bitcoin self-custody: Balancing safety and ease of use

Secure Bitcoin self-custody: Balancing safety and ease of use

by
January 17, 2021
0

With Bitcoin’s price clocking $40,000 recently, safe and secure measures for storing the valuable digital asset are once again on...

Load More
  • Trending
  • Comments
  • Latest
Privacy Coins Monero, Dash, and Zcash to be Delisted on Bittrex, Dash Unhappy with Decision

Privacy Coins Monero, Dash, and Zcash to be Delisted on Bittrex, Dash Unhappy with Decision

January 4, 2021
SushiSwap’s SUSHI Surges 20% Again After Ethereum Price Correction

SushiSwap’s SUSHI Surges 20% Again After Ethereum Price Correction

December 6, 2020

Services Could Help Investors Rate Crypto Currencies

December 6, 2020

3 Factors That Made Bitcoin Become so Valuable Last Year

December 6, 2020
Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0
Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

Pre-Register Now on Aladdin Exchange to Receive 100 TNC Coins

January 17, 2021
Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on

January 17, 2021
DeFi’s death by a thousand cuts

DeFi’s death by a thousand cuts

January 17, 2021
Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

Paypal to Earn $2 Billion in Revenue From Its Bitcoin Business, Says Analyst

January 17, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Abra
  • Altcoin News
  • altcoins
  • Altseason
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Smart Chain
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • bitcoin network
  • Bitcoin price
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Group
  • coinbase
  • Coinmarketcap
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Electric Coin Company
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Futures
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Guide
  • Guides
  • Institutional Investors
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • Other
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Wallets and Exchanges
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.