- XRP/USD bounces off intraday low of 0.2647, stays below 21-day SMA for fifth day.
- Messari report suggests BTC, XRP are most popular in Korea.
- Multiple falling trend lines, sustained break of previous support line joins trading below key SMAs to keep Ripple bears hopeful.
As per the latest report from Messari, Bitcoin and Ripple are the most popular cryptocurrencies in South Korea. The research relies on the data from Bithumb, Corbit and Coinone for the fiscal year 2019.
While BTC/USD recently justified its market favorite status with a fresh record top, also staying above the key SMAs, Ripple prices are on a shaky ground off-late.
That said, XRP/USD consolidates recent losses while picking up bids from the intraday low to 0.2690 during early Tuesday. Even so, the Ripple prices maintain trading below 21-day SMA while keeping the mid-January’s downside break of an ascending trend line from December 29.
Not only the sustained trading below immediate SMA and extension of the previous support break but downbeat performance under the falling trend lines from January 10 and December 25 also portray XRP/USD weakness.
As a result, the sellers are currently targeting the monthly low of 0.2400 while any further weakness will have to drop beneath the December 23 low of 0.2126 to please the XRP/USD bears.
Meanwhile, an upside clearance of 21-day SMA, at 0.2881 now, will challenge a two-week-old resistance line near 0.3010.
However, any upside past-0.3010 will have to cross the confluence of 50-day SMA and a downward sloping trend line from the late-December, around 0.3530.
XRP/USD daily chart
Additional important levels
|Today last price||0.2691|
|Today Daily Change||0.0014|
|Today Daily Change %||0.52%|
|Today daily open||0.2677|
|Previous Daily High||0.2853|
|Previous Daily Low||0.2671|
|Previous Weekly High||0.3295|
|Previous Weekly Low||0.24|
|Previous Monthly High||0.6817|
|Previous Monthly Low||0.1719|
|Daily Fibonacci 38.2%||0.2741|
|Daily Fibonacci 61.8%||0.2784|
|Daily Pivot Point S1||0.2615|
|Daily Pivot Point S2||0.2552|
|Daily Pivot Point S3||0.2433|
|Daily Pivot Point R1||0.2797|
|Daily Pivot Point R2||0.2916|
|Daily Pivot Point R3||0.2978|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.