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Futures
Futures
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Hundreds of contracts settled in USDT or BTC
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Futures Kickoff
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Alpha Points
New
Trade on-chain assets and enjoy airdrop rewards!
Futures Points
New
Earn futures points and claim airdrop rewards
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Simple Earn
Earn interests with idle tokens
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Auto-invest on a regular basis
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Pledge one crypto to borrow another
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VIP Wealth Hub
New
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
Staking
Stake cryptos to earn in PoS products
BTC Staking
HOT
Stake BTC and earn 10% APR
GUSD Minting
New
Use USDT/USDC to mint GUSD for treasury-level yields
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Ripple's (XRP) price closed below a critical horizontal area, fueling fears that the trend is bearish. The downtrend is expected to continue unless the price regains this area and initiates a significant upward move.
Weekly timeframe technical analysis for XRP shows a bearish trend. This is shown to be due to both price action and RSI readings. First, the XRP price has fallen since its annual high of $0.93 in July. At the time, it was rejected by the 0.382 Fib retracement resistance level. This created a long upper wick, indicating that the sellers were taking control and the trend was bearish.
Shortly after, the price declined below the long-term horizontal area of $0.55. After XRP's debut, the region was expected to provide support. However, this was not the case as the price dropped last week and closed below this level. If the downside continues, the nearest support at $0.30 will be 40% below the current price. On the other hand, a recovery of the $0.55 area could lead to an 85% increase in the price to a yearly high of $0.93.
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