• Ripple trades over 5% lower as the price retreats after the big rally on Wednesday.
  • There is a huge level the price pulled back from to move lower.

XRP/USD daily chart

Ripple had a great Wednesday and pushed higher toward the 200 simple moving average (SMA). On Thursday, it all looked so promising as the price started the session higher, but since the price has come crashing down and with further inspection, it's not hard to see why.

The resistance level marked by the orange rectangle below shows that the 50% Fibonacci, 200 SMA and resistance zone all matched up to form the perfect blended resistance area. The bulls just could not take out the level despite a valiant effort to do so. 

Now it seems the price could be heading back to the psychological 0.20 zone, which was a big resistance point earlier in the month. Around that level, the 55 exponential moving average also lies in wait and we could see a pullback there before the upward trend continues. 

Ripple smashes big level

Additional levels

XRP/USD

Overview
Today last price 0.2145
Today Daily Change -0.0120
Today Daily Change % -5.30
Today daily open 0.2265
 
Trends
Daily SMA20 0.1928
Daily SMA50 0.1786
Daily SMA100 0.2173
Daily SMA200 0.229
 
Levels
Previous Daily High 0.2309
Previous Daily Low 0.2128
Previous Weekly High 0.1999
Previous Weekly Low 0.1784
Previous Monthly High 0.2468
Previous Monthly Low 0.1129
Daily Fibonacci 38.2% 0.224
Daily Fibonacci 61.8% 0.2197
Daily Pivot Point S1 0.2159
Daily Pivot Point S2 0.2054
Daily Pivot Point S3 0.1979
Daily Pivot Point R1 0.234
Daily Pivot Point R2 0.2414
Daily Pivot Point R3 0.252

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Why LUNA traders do not have to be in the market all the time

Why LUNA traders do not have to be in the market all the time

Terra (LUNA) price action has slipped below a critical level outlined a few days ago. As price action moves start to get smaller, a big move is set to happen, but it is very cloudy to see where that move will be going.

More Terra News

SEC vs. Ripple case, two key decisions awaited by XRP holders

SEC vs. Ripple case, two key decisions awaited by XRP holders

XRP holders are awaiting key decisions in the SEC vs. Ripple case. Experts believe judge Sarah Netburn could rule on the two key decisions in the lawsuit against payment giant Ripple. 

More Ripple News

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC’s purchase of carbon credits through KlimaDAO partnership represented 104,794 tonnes of greenhouse gasses, equivalent to the Ethereum scaling solution’s debt since 2019. Carbon neutrality has fueled a bullish sentiment among traders and 

More Polygon News

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Shiba Inu price may have bottomed but this can only be confirmed if the current rally persists. Traders should be aware of several factors. Shiba Inu price has suddenly changed as the bulls have printed a significantly large bullish engulfing candle on the daily chart. 

More Shiba Inu news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP