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Ripple Price Analysis: XRP bulls need to defend $0.4500

  • XRP/USD snaps two-day winning streak, takes a U-turn from 200-bar SMA.
  • Failures to cross key SMA battles bullish MACD.
  • Sellers will look to defy the bullish chart pattern for entry.
Ripple Price Analysis: XRP bulls need to defend $0.4500
Anil PanchalAnil PanchalFXStreet

Ripple joins the fresh drop in headline cryptocurrencies while revisiting $0.4600, down 4.62% intraday, during early Friday. The altcoin recently took a U-turn from 200-bar SMA but stays inside a weekly rising trend channel to keep the buyers hopeful.

Given the bullish MACD testing the XRP/USD failure to cross the key SMA, sellers will wait for a clear downside break of the stated channel’s support, at $0.4500 now, for fresh entries.

Following that, the last week’s low around $0.3650 can offer an intermediate halt during the quote’s slump towards February’s low near $0.3400.

Meanwhile, a clear break above the 200-bar SMA level of $0.4850 needs to cross the stated channel’s upper line, at the 0.5000 threshold.

During the quote’s sustained trading above 0.5000, 0.5200 and the 0.6000 can entertain XRP/USD bulls ahead of late February top near 0.6500.

XRP/USD four-hour chart

Trend: Pullback expected

additional important levels

Overview
Today last price0.4588
Today Daily Change-0.0222
Today Daily Change %-4.62%
Today daily open0.481
 
Trends
Daily SMA200.5011
Daily SMA500.4174
Daily SMA1000.4277
Daily SMA2000.3479
 
Levels
Previous Daily High0.4945
Previous Daily Low0.4346
Previous Weekly High0.6494
Previous Weekly Low0.3658
Previous Monthly High0.7565
Previous Monthly Low0.3406
Daily Fibonacci 38.2%0.4716
Daily Fibonacci 61.8%0.4575
Daily Pivot Point S10.4456
Daily Pivot Point S20.4101
Daily Pivot Point S30.3856
Daily Pivot Point R10.5055
Daily Pivot Point R20.53
Daily Pivot Point R30.5654

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.

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