TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Ripple Price Analysis: XRP bears refresh three week low near 0.4700, eye 50-day EMA

  • XRP/USD stays heavy after two-day downside.
  • 50-day EMA, 12-day-old support line restricts immediate downside.
  • 61.8% Fibonacci retracement adds to the support, bulls need a clear break beyond three-week-long resistance line.
Ripple Price Analysis: XRP bears refresh three week low near 0.4700, eye 50-day EMA
Anil PanchalAnil PanchalFXStreet

XRP/USD flirts with the lowest since November 26, flashed the previous day, while trading near 0.4700 during early Wednesday. The crypto major refreshed the multi-day low the previous day while extending the downside break of 50% Fibonacci retracement of November’s north-run.

Although receding RSI condition suggests further weakness, a confluence of 50-day EMA and a falling trend line from November 29, around 0.4550/40, will challenge the XRP/USD sellers.

Additionally, 61.8% Fibonacci retracement level of 0.4407 and November 22 low of 0.4035 extra downside filters.

Alternatively, 21-day EMA near 0.5300 will lure the short-term XRP/USD buyers. However, any further upside needs a clear break above the resistance line stretched from November 24, at 0.5410 now.

In a case where the XRP/USD bulls dominate past-0.5410, the 0.6000 threshold can offer an intermediate halt ahead of the monthly peak surrounding 0.6820.

XRP/USD daily chart

Trend: Bearish

additional important levels

Overview
Today last price0.4691
Today Daily Change-0.0284
Today Daily Change %-5.71%
Today daily open0.4975
 
Trends
Daily SMA200.5823
Daily SMA500.4126
Daily SMA1000.3288
Daily SMA2000.2793
 
Levels
Previous Daily High0.5187
Previous Daily Low0.49
Previous Weekly High0.6289
Previous Weekly Low0.504
Previous Monthly High0.7843
Previous Monthly Low0.228
Daily Fibonacci 38.2%0.5009
Daily Fibonacci 61.8%0.5077
Daily Pivot Point S10.4855
Daily Pivot Point S20.4734
Daily Pivot Point S30.4568
Daily Pivot Point R10.5141
Daily Pivot Point R20.5307
Daily Pivot Point R30.5428

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

Why altcoin season isn't coming back — and what stole its capital

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin Weekly Forecast: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin recovers, trading above $78,000 on Friday, but the 50-week SMA near $78,760 continues to cap its upside. A hawkish Fed outlook, escalating Middle East tensions, and the CLARITY Act's failure to advance in the US Senate could limit BTC upside.

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

Why Bitcoin's over 30% rebound doesn't mean the bear market cycle is done

BTC has staged a strong recovery after falling to a yearly low of $57,800 in July, gaining nearly 33% and recording two consecutive months of gains in July and August. Is this the start of a new bullish phase, or simply another recovery within a broader bear-market cycle?

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Crypto Today: Bitcoin, Ethereum, XRP eye short-term breakout as bulls return

Bitcoin trades higher near $78,000 on Friday as bulls return after early-week macro uncertainty and regulatory headwinds. Ethereum aligns with the broader crypto market’s neutral-to-bullish outlook, holding support above $2,400 and gaining momentum for a short-term breakout at $2,500.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.