Ripple Price Analysis: 0.20 once again is a step too far

Ripple trades over 2% lower on Monday as crypto sentiment worsens.
The price is now testing an important support area after the MA was rejected.

Rajan Dhall, MSTA FX Daily

XRP/USD daily chart

Ripple has been moving lower today much like the rest of the cryptosphere after a fresh wave of selling. The price has bounced off the 55 exponential moving average and moved lower. The price is also trading under the all-important 200 daily simple moving average to compound the woes.

The 0.20 psychological level has been a thorn in the side of ripple bulls for for some time now. This is the second time the price has been rejected on this chart alone. The next support zone to watch out for is 0.1738 as if that break it would make a lower high lower low on the intraday timeframes.

On the topside the bulls will need to take out 0.20 and the 55 EMA to have any chance at a sustained run to higher levels but at the moment momentum is fully with the bears.

Additional levels

XRP/USD

Overview
Today last price	0.1848
Today Daily Change	-0.0044
Today Daily Change %	-2.33
Today daily open	0.1892

Trends
Daily SMA20	0.1874
Daily SMA50	0.1849
Daily SMA100	0.2205
Daily SMA200	0.2323

Levels
Previous Daily High	0.1964
Previous Daily Low	0.188
Previous Weekly High	0.1962
Previous Weekly Low	0.1741
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.1912
Daily Fibonacci 61.8%	0.1932
Daily Pivot Point S1	0.186
Daily Pivot Point S2	0.1828
Daily Pivot Point S3	0.1775
Daily Pivot Point R1	0.1944
Daily Pivot Point R2	0.1996
Daily Pivot Point R3	0.2028

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.