Ripple market update: XRP bulls keep $0.4000, but lack follow-through

  • Saturday’s early sell-off appears to have stalled, but a dead cat bounce?
  • Bulls run into 50.0% Fib level of the latest decline on hourly chart.

Not so long ago the crypto space felt the weekend love receding, the bulls jumped in for rescue that prompted a recovery in the Ripple (XRP/USD) in tandem with its rival coins. The latest sell-off from near $0.4243 levels found buyers just ahead of the $0.4000 level.

Over the last hours, the price attempted a tepid recovery only to fizzle out near 0.4120 region, where the 50% Fibonacci retracement of the latest decline and the 21-hour Simple Moving Average (SMA) act as a major resistance zone. The sellers are seen taking back charge, as the coin drops below the 38.2% level, on its way to test the 23.6% Fib placed at 0.4058. A break below the last will confirm the latest bounce a dead cat one and expose the 0.4000 handle once again.

Only a break above the mentioned resistance area near 0.4120 will power the bulls once again to resume the upside momentum towards the 0.4250 barrier. Other technical indicators, as observed on the hourly sticks, such as Relative Strength Index (RSI) trades flatlined at the 50 mark, suggesting that recovery may have lost momentum.

XRP/USD 1-hour chart

Levels to Watch


Today last price 0.4091
Today Daily Change -0.0148
Today Daily Change % -3.49
Today daily open 0.4239
Daily SMA20 0.4294
Daily SMA50 0.4111
Daily SMA100 0.3654
Daily SMA200 0.3458
Previous Daily High 0.4243
Previous Daily Low 0.3978
Previous Weekly High 0.494
Previous Weekly Low 0.3894
Previous Monthly High 0.4741
Previous Monthly Low 0.2917
Daily Fibonacci 38.2% 0.4142
Daily Fibonacci 61.8% 0.4079
Daily Pivot Point S1 0.4064
Daily Pivot Point S2 0.3889
Daily Pivot Point S3 0.3799
Daily Pivot Point R1 0.4328
Daily Pivot Point R2 0.4418
Daily Pivot Point R3 0.4593



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