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Ripple Price Analysis: XRP buyers confront short-term key SMA to regain 0.2700

  • XRP/USD takes the bids to refresh intraday high.
  • Strong RSI favor further upside beyond 200-bar SMA immediate hurdle.
  • Multiple resistance lines stand tall to challenge bulls.
Ripple Price Analysis: XRP buyers confront short-term key SMA to regain 0.2700
Anil PanchalAnil PanchalFXStreet

XRP/USD rises to 0.2717 amid early Friday’s trading session. In doing so, the altcoin refreshes intraday top while extending the recovery moves from a swing low of 0.2440 marked on Wednesday.

Considering the strong RSI conditions, XRP/USD is expected to stay above the 200-bar SMA level of 0.2710. Though, a downward sloping trend line from January 10, at 0.2870 now, will challenge the buyers afterward.

In a case where the XRP/USD prices rise beyond 0.2870, the upside momentum can accelerate towards another key resistance line, from December 25, which is currently around 0.3475. During the rise, the quote may catch a breather around the 0.3000 threshold.

Alternatively, the cryptocurrency pair’s pullback moves may eye the 0.2600 round-figure as immediate support ahead of targeting the weekly bottom surrounding 0.2440.

Should the XRP/USD bears dominate past-0.2440, January 22 low near 0.2400 adds to the downside filters before highlighting the 0.2000 psychological magnet for the market.

Overall, the XRP/USD prices are likely to remain depressed unless crossing 0.3475.

XRP/USD four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price0.2713
Today Daily Change68 pips
Today Daily Change %2.57%
Today daily open0.2645
 
Trends
Daily SMA200.2836
Daily SMA500.3407
Daily SMA1000.363
Daily SMA2000.3081
 
Levels
Previous Daily High0.2704
Previous Daily Low0.2476
Previous Weekly High0.3295
Previous Weekly Low0.24
Previous Monthly High0.6817
Previous Monthly Low0.1719
Daily Fibonacci 38.2%0.2617
Daily Fibonacci 61.8%0.2563
Daily Pivot Point S10.2513
Daily Pivot Point S20.2381
Daily Pivot Point S30.2286
Daily Pivot Point R10.2741
Daily Pivot Point R20.2836
Daily Pivot Point R30.2968

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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