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Ripple Price Analysis: The Fib levels are holding firm close to 0.20

  • Ripple is trading just under flat on Thursday on a mixed day for cryptocurrencies.
  • The price has moved back to the 38.2% Fib level and is moving lower.
Ripple Price Analysis: The Fib levels are holding firm close to 0.20
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD daily chart

The price has retraced heavily since hitting the low of 0.11004. There has been a rejection of the 50% Fibonacci retracement and then another move lower with a subsequent test of the 38.2% level. 

That is not the only level to stand in the way of a move higher. The blue 55 exponential moving average is also acting as a resistance zone at the moment. The price is hovering around the 0.20 psychological support but looks like it might break to the downside. 

The relative strength index indicator is also looking weak. The signal line is under the 50 mid-point and a break of the 0.18 level will confirm the bearishness. 

Ripple Fib Rejection

Additional level

XRP/USD

Overview
Today last price0.2013
Today Daily Change-0.0006
Today Daily Change %-0.30
Today daily open0.2019
 
Trends
Daily SMA200.2093
Daily SMA500.194
Daily SMA1000.2139
Daily SMA2000.2238
 
Levels
Previous Daily High0.2043
Previous Daily Low0.1959
Previous Weekly High0.2268
Previous Weekly Low0.2074
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.2011
Daily Fibonacci 61.8%0.1991
Daily Pivot Point S10.197
Daily Pivot Point S20.1922
Daily Pivot Point S30.1886
Daily Pivot Point R10.2055
Daily Pivot Point R20.2092
Daily Pivot Point R30.214

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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