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

Ripple xrp price 9 may 2019

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 1Ripple 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.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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