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XRP Price Breaks Bearish; follow $0.25?

 


Overall, the XRP price has already fallen over 31% this month. In addition, the XRP price has now broken out bearishly, which could drop it to USD 0.25.


The month of June has been very bearish for the XRP course so far

The XRP price has already fallen over 31% this month and half of the month is still to come. In addition, the XRP course broke out bearishly, reaching the support between USD 0.25 – 0.30. The ripple price could reach the lower border of the support around USD 0.25 in the coming days.


If support breaks, Ripple could even drop another 46% to find support between $0.11 – $0.17.


On the monthly chart, the MACD is clearly bearish as the histogram continues to tick bearish lower while the MACD lines remain bearish crossovers. The RSI, on the other hand, is neutral and gives neither bullish nor bearish signals.


XRP price is now finding support

In the weekly chart, the RSI is gradually reaching oversold regions and the histogram of the MACDs has also been ticking bullishly higher so far. However, the MACD lines remain bearish crossed over.


Should Rippe already bounce off the support, he will find the next significant Fibonacci resistances at around USD 0.53 and USD 0.68.


However, without a golden ratio book around $2.1, Ripple's trend remains bearish.


A bullish divergence is emerging on the daily chart

The daily chart showed a bullish divergence in the RSI and MACD, after which the Ripple price has already risen by 18%. Today it seems that the XRP course continues the downtrend. The MACD lines are also crossed bearishly and the histogram is ticking bearishly lower.


Against BTC, the XRP price could form a bullish candlestick formation at the end of the month

The MACD lines in the monthly chart are bullishly crossed against BTC, but the histogram is ticking bearishly lower. If the XRP price is above 0.00001555 BTC at the end of the month, there would be a “Bullish Engulfing Candle”; a bullish candlestick pattern. Then the Ripple price could rise to the next Fibonacci resistances at around 0.000023 BTC and 0.00003 BTC respectively.


Otherwise, the downside potential is around 71% until Ripple hits the next significant support, which lies between 0.00000442 – 0.0000063 BTC.

Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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