Ripple Price Analysis: XRP bears push for a downswing below $0.51


  • XRP/USD keeps pullback from 10-day SMA, MACD turns bearish for the first time in six weeks.
  • Ascending trend line from February 02 restricts immediate declines.
  • Monthly resistance line adds to the upside filters.

XRP/USD drop to $0.5270 while extending the previous day’s pullback to early Friday. The altcoin’s latest weakness could be traced from its repeated failures to cross 10-day SMA as well as the first bearish MACD signal since the early January.

This keeps the ripple sellers hopeful. However, an upward sloping trend line from the initial February, close to $0.5100, restricts the quote’s immediate downside.

As a result, the XRP/USD bears should look for entry below $0.5100 for fresh downswing targeting the January 07 high near $0.3700. Though, the monthly low near $0.3400 can challenge the sellers afterward.

Meanwhile, an upside clearance of 10-day SMA, at $0.5530 now, will have to cross the downward sloping trend line from February 01, currently around $0.5950, to recall the XRP/USD buyers. Also acting as an upside filter is the $0.6000 round-figure.

To sum, Ripple’s failures to follow the crypto majors seems to give risk-taking sellers a fresh life.

XRP/USD daily chart

Trend: Further downside expected

Additional important levels

Overview
Today last price 0.5286
Today Daily Change -0.0031
Today Daily Change % -0.58%
Today daily open 0.5317
 
Trends
Daily SMA20 0.4891
Daily SMA50 0.3599
Daily SMA100 0.4116
Daily SMA200 0.3354
 
Levels
Previous Daily High 0.5599
Previous Daily Low 0.5196
Previous Weekly High 0.6247
Previous Weekly Low 0.3911
Previous Monthly High 0.5167
Previous Monthly Low 0.2109
Daily Fibonacci 38.2% 0.535
Daily Fibonacci 61.8% 0.5445
Daily Pivot Point S1 0.5142
Daily Pivot Point S2 0.4967
Daily Pivot Point S3 0.4738
Daily Pivot Point R1 0.5546
Daily Pivot Point R2 0.5774
Daily Pivot Point R3 0.5949

 

 

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

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Weekly Forecast: BTC price surges despite threat of crash to $36k

Bitcoin price shows lackluster performance after the recent crash, giving rise to the credibility of the run-up to $50,000. As the September 24 daily candlestick bathes in red, the chances of an uptrend continue to diminish.

More Bitcoin news

XLM Price Prediction: Stellar traps bulls as it targets $0.195

Since Wednesday, the Stellar (XLM) price has been paring back losses, but price action has already started to fade on XLM. Bulls cannot push the price above $0.30, and XLM price has startedto form a bull trap.

More Stellar Lumens News

Polkadot Price Prediction: DOT will hit $40 by October

Polkadot (DOT) bears are scrambling to cash in on their profits as price action for DOT reverses quite rapidly, with bulls overtaking control and pushing price action back toward levels achieved before the correction began. 

More Polkadot News

PBoC imposes ban on crypto trading as it fosters ‘illegal financial activity’

China’s central bank cracks down on illegal financial activities from overseas cryptocurrency exchanges. The recent announcement marks the People’s Bank of China's (PBoC) strongest move against cryptocurrency mining and trading to date. 

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP