Ripple Price Analysis: XRP eases inside 13-day-old symmetrical triangle


  • XRP/USD fails to extend Tuesday’s recovery moves, remains sideways inside short-term triangle.
  • MACD eases bearish bias but 200-bar SMA joins triangle resistance to challenge bulls.
  • Sellers may eye December lows on triangle breakdown.

XRP/USD drops to 0.2875 during early Wednesday. In doing so, the ripple pair defies recovery hopes, triggered the previous day, while funneling down a symmetrical triangle established since December 25.

Despite failures to regain upside momentum, MACD signals ease bearish bias while the RSI conditions are also normal, which in turn suggest a slow grind to the north.

However, 200-bar SMA adds strength to the triangle’s resistance, currently around 0.3670, to challenge XRP/USD bulls. Also acting as an immediate upside filter is the December 25 top near 0.3850.

It should be noted that the quote’s ability to jump past-0.3850 will enable it to challenge the mid-December low near 0.4380.

Alternatively, a downside break of the triangle’s support, at 0.2673 now, may direct XRP/USD sellers towards the 0.2100 threshold ahead of highlighting the 0.2000 round-figure.

In a case where the crypto pair remains depressed past-0.2000, December’s low around 0.1720 will be the key to watch.

XRP/USD four-hour chart

Trend: Sideways

Additional important levels

Overview
Today last price 0.2872
Today Daily Change -0.0053
Today Daily Change % -1.81%
Today daily open 0.2925
 
Trends
Daily SMA20 0.2697
Daily SMA50 0.4458
Daily SMA100 0.3583
Daily SMA200 0.3007
 
Levels
Previous Daily High 0.3101
Previous Daily Low 0.2775
Previous Weekly High 0.3703
Previous Weekly Low 0.2152
Previous Monthly High 0.6817
Previous Monthly Low 0.1719
Daily Fibonacci 38.2% 0.2977
Daily Fibonacci 61.8% 0.29
Daily Pivot Point S1 0.2767
Daily Pivot Point S2 0.2608
Daily Pivot Point S3 0.244
Daily Pivot Point R1 0.3093
Daily Pivot Point R2 0.326
Daily Pivot Point R3 0.3419

 

 

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