Ripple XRP price analysis 17 May 2019; XRP price facing troubles

The current week observed a robust rise in the price of ripple beyond the zero points four and zero point four two dollars ($0.4 & $0.42) opposition against the USD.

The XRP/USD duo even surpassed the zero point four four five dollars ($0.445) pivot level and transacted to a new high of 2019 at zero point four eight zero two dollars ($0.4802).

Far along, there has been a severe downside correction from zero point three eight zero two dollars ($0.3802) high mark.

The cost dealt below the zero point four four five dollars ($0.4450) pivot point to initiate a key downward exchange. It transacted under the zero point four and zero point four two dollars ($0.44 & $0.42) support levels to move to a bear trend area.

More decisively, this week’s soaring channel was penetrated with the support close to zero point four three six five dollars ($0.4365) on the hourly chart of the XRP/USD duo.

The duo managed to break the zero point four dollars ($0.4) support and confirmed the zero point three seven four dollars ($0.374) support zone.

A low swing low was observed at zero point three seven four five dollars ($0.3745), and the price presently recoiled.

It recovered above the zero point four two dollars ($0.4200) and the fifty percent (50%) Fib retracement level of the present drop from zero point four eight zero two dollars ($0.4802) high to zero point three seven four five dollars ($0.3745) low.

But, the earlier support near the zero point four four five zero dollars ($0.4450) level operated as a solid opposition.

Moreover, the cost botched near the sixty-one point eight percent (61.8%) Fib retracement level of the present drop from zero point four eight zero two dollars ($0.4802) maximum to zero point three seven four five dollars ($0.3745) minimum.

Ripple XRP price analysis 17 May 2019; XRP price facing troubles 2Ripple XRP price chat by Trading View

Presently, the price is falling and trading under zero point four dollars ($0.4). Instant support lies at zero point three nine five dollars mark ($0.395) and the 100 –hourly SMA.

Major support is expected near the zero point three seven four mark ($0.374), where the bulls might guard added damages.

Below the zero point three seven four mark ($0.3740), ripple price may drop to the zero point three four dollars ($0.34) pivot mark.

According to the chart, ripple price is under pressure beyond the zero point four two dollars ($0.42) supports. The price might revisit zero point three seven four mark ($0.374) before beginning a new hike. On the upside, a preliminary opposition lies at zero point four two dollars ($0.42).

Whereas, the major obstacle is close to zero point four four five dollars ($0.4450), which might make price surge above the zero point four eight zero two dollars ($0.4802) high swing.

Hourly MACD and RSI indicator for XRP/USD duo is gradually gaining momentum in the bear zone and lie under 50 levels.

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