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.

Rajan Dhall, MSTA FX 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,

Additional levels

XRP/USD

Overview
Today last price	0.1887
Today Daily Change	-0.0087
Today Daily Change %	-4.41
Today daily open	0.1974

Trends
Daily SMA20	0.2079
Daily SMA50	0.1916
Daily SMA100	0.2154
Daily SMA200	0.2251

Levels
Previous Daily High	0.2162
Previous Daily Low	0.178
Previous Weekly High	0.2268
Previous Weekly Low	0.2074
Previous Monthly High	0.2358
Previous Monthly Low	0.1684
Daily Fibonacci 38.2%	0.1926
Daily Fibonacci 61.8%	0.2016
Daily Pivot Point S1	0.1782
Daily Pivot Point S2	0.159
Daily Pivot Point S3	0.1401
Daily Pivot Point R1	0.2164
Daily Pivot Point R2	0.2354
Daily Pivot Point R3	0.2546

Author

Rajan Dhall, MSTA

FX Daily

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

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