• Ripple trades just above 1% higher on the session despite BTC rising over 5%.
  • There is now an important chart pattern on the hourly chart to monitor.

XRP/USD 1-hour chart

Ripple trades higher on the session but is seriously lagging behind the digital gold that is bitcoin. There is now a chart pattern that has developed on the hourly chart below and a break of this pattern could help us determine the future path of XRP. 

The pattern has a flat bottom which is now a support zone at 0.2079. If this level breaks the price could hit lower level and the next meaningful support lies at the psychological 0.20 level. On the topside, the price will need to break the patterns trendline to move higher and the next target would be the wave high of 0.2361.

The price is holding above the 200 and 55 moving averages but its position above the blue 55 EMA is looking slightly precarious. The RSI indicator is also looking weak as it broke below the 50 mid-line. The RSI does look like it might move up as if we draw a trendline from the two higher peaks it would show that it has now been broken. 

Overall the trend is still an uptrend. The only thing that could change this is a break of the aforementioned support as this would make a lower high lower low wave pattern. 

Ripple chart pattern

Additional levels

XRP/USD

Overview
Today last price 0.2144
Today Daily Change 0.0026
Today Daily Change % 1.23
Today daily open 0.2118
 
Trends
Daily SMA20 0.2031
Daily SMA50 0.1871
Daily SMA100 0.2165
Daily SMA200 0.2267
 
Levels
Previous Daily High 0.2226
Previous Daily Low 0.2103
Previous Weekly High 0.2358
Previous Weekly Low 0.1917
Previous Monthly High 0.2358
Previous Monthly Low 0.1684
Daily Fibonacci 38.2% 0.215
Daily Fibonacci 61.8% 0.2179
Daily Pivot Point S1 0.2072
Daily Pivot Point S2 0.2026
Daily Pivot Point S3 0.1949
Daily Pivot Point R1 0.2195
Daily Pivot Point R2 0.2272
Daily Pivot Point R3 0.2318

 

 


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