Ripple price analysis: no more gains for XRP/USD
- XRP/USD is capped by sloping trendline.
- $0.40 is the key to success.
XRP/USD is flirting with $0.3800 virtually unchanged since this time on Thursday. The second largest coin with a market value of $15.3 locked in a tight range after a series of unsuccessful attempts to break above pivotal resistance $0.40.
Ripple's technical picture
From the intraday point of view, XRP's upside is capped by SMA50 (4-hour) at $0.3857. This resistance is closely followed by the sloping trendline from November 18 high at $0.5269 (currently at $0.3870). Once this area is cleared, the upside may be extended towards the above-mentioned psychological $0.40, that needs to be broken to motivate bulls for a new assault. The next resistance is spotted at $0.4318 (SMA100, 4-hour).
Once firmly below $0.3800, XRP/USD may extend the downside towards $0.3700 and $0.33 followed by the recent low of $0.3237.
XRP/USD, 4-hour chart
Author
Tanya Abrosimova
Independent Analyst
