• Ripple trades just over 1% lower on Wednesday after bullish momentum drops off.
  • The waves on the intraday chart still point to a move higher.

XRP/USD 1-hour chart

Ripple has been consolidating after a large drop over the past month. Around 0.1740 is the wave high and the major low stands at 0.1105. The pair is now coming to a critical time. if the pair attacks the highs then the bulls will take charge but there have been some very lacklustre attempts soo far. On the downside, there is lots of traffic in the way. The 0.1500 psychological level has been very strong and it will take some doing breaking that.

Looking at the hourly chart below, The swing highs and lows have been highlighted by the circles. At the moment there has been a higher low and a higher high wave. This is bullish but it won't mean much if 0.1760 is not challenged. The price is trading above the moving averages and the RSI has just dipped below 50. This means there is a mixed picture from the indicators. If we are focusing on price itself this can still be considered as a basing pattern. A upside break is desperately needed for confirmation.

Ripple wave analysis

Additional levels

XRP/USD

Overview
Today last price 0.1605
Today Daily Change -0.0024
Today Daily Change % -1.47
Today daily open 0.1629
 
Trends
Daily SMA20 0.177
Daily SMA50 0.2338
Daily SMA100 0.2238
Daily SMA200 0.2426
 
Levels
Previous Daily High 0.1637
Previous Daily Low 0.1588
Previous Weekly High 0.1756
Previous Weekly Low 0.1283
Previous Monthly High 0.3467
Previous Monthly Low 0.2245
Daily Fibonacci 38.2% 0.1618
Daily Fibonacci 61.8% 0.1607
Daily Pivot Point S1 0.1599
Daily Pivot Point S2 0.1569
Daily Pivot Point S3 0.155
Daily Pivot Point R1 0.1649
Daily Pivot Point R2 0.1668
Daily Pivot Point R3 0.1698

 

 

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