- XRP/USD struggles to keep bounces off intraday low.
- Bearish MACD, 10-day SMA and a two-week-old resistance line favor the bears.
- Bulls need to refresh monthly top to retake controls.
XRP/USD marks a corrective pullback from the intraday low of 0.5503 while picking up bids near 0.5622 during early Wednesday. In doing so, the ripple battles 21-day SMA amid bearish MACD signals.
Not only the quote’s latest declines below 21-day SMA, sustained trading below 10-day SMA and a falling trend line from November 25 also lure XRP/USD bears.
However, fresh selling can wait for a clear downside past-0.5500 while targeting the monthly low of 0.5427.
In a case where the quote refreshes the monthly bottom, the 0.5000 round-figure and November 21 high near 0.4700 will gain the market’s attention.
Meanwhile, a daily closing beyond the 21-day SMA level of 0.5640 will need to break 10-day SMA and the stated resistance line, respectively around 0.6030 and 0.6100, to probe the month’s peak near 0.6820.
Though, XRP/USD bulls’ dominance past-0.6820 will enable them to challenge the record high, marked in November, surrounding 0.7840/45.
XRP/USD daily chart
Trend: Further weakness expected
Additional important levels
|Today last price||0.558|
|Today Daily Change||-0.0010|
|Today Daily Change %||-0.18%|
|Today daily open||0.559|
|Previous Daily High||0.6108|
|Previous Daily Low||0.5503|
|Previous Weekly High||0.6827|
|Previous Weekly Low||0.5427|
|Previous Monthly High||0.7843|
|Previous Monthly Low||0.228|
|Daily Fibonacci 38.2%||0.5734|
|Daily Fibonacci 61.8%||0.5877|
|Daily Pivot Point S1||0.5359|
|Daily Pivot Point S2||0.5128|
|Daily Pivot Point S3||0.4754|
|Daily Pivot Point R1||0.5964|
|Daily Pivot Point R2||0.6339|
|Daily Pivot Point R3||0.6569|
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