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Ripple Price Analysis: This 4-hour chart doesn't look so great

  • Ripple is trading 5% lower on Monday crypto sentiment takes a dive.
  • The price is now heading toward the 0.1800 support zone.
Ripple Price Analysis: This 4-hour chart doesn't look so great
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 4-hour chart

Ripple is having a tough time on Monday and the bears are in full control. On the 4-hour chart below, once the wedge was broken to the downside it seems the price capitulated. The psychological 0.20 has been a big support in the past and now it has been broken and used as resistance again as the pullback from the break lower kicked in.

Looking closer at the indicators, the price is now trading below the 55 and 200 moving averages. There was not even time to use them as support zones as the sell off was soo strong. The Fibonacci 50% zone has already been used support and it also confluences with the 0.180 psychological level. Another break below this level could spell trouble for the pair,

Ripple breaking lower

Additional levels

XRP/USD

Overview
Today last price0.1887
Today Daily Change-0.0087
Today Daily Change %-4.41
Today daily open0.1974
 
Trends
Daily SMA200.2079
Daily SMA500.1916
Daily SMA1000.2154
Daily SMA2000.2251
 
Levels
Previous Daily High0.2162
Previous Daily Low0.178
Previous Weekly High0.2268
Previous Weekly Low0.2074
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.1926
Daily Fibonacci 61.8%0.2016
Daily Pivot Point S10.1782
Daily Pivot Point S20.159
Daily Pivot Point S30.1401
Daily Pivot Point R10.2164
Daily Pivot Point R20.2354
Daily Pivot Point R30.2546

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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Ripple Price Analysis: This 4-hour chart doesn't look so great