- XRP/USD prints three-day losing streak despite staying above short-term support line.
- Bullish RSI, MACD can help restrict short-term downside around key support.
Failures to keep upside break of 200-day SMA drags XRP/USD towards revisiting a short-term support line. That said, the quote drops to 0.2820 during early Tuesday.
Considering ripple’s pullback from a downward slopping trend line since December 25, coupled with the recent drop below 200-day SMA, XRP/USD traders can revisit a short-term support line, at 0.2580.
However, any further losses will be challenged by bullish MACD and almost upbeat RSI conditions.
In a case where the XRP/USD sellers break the 0.2580 support line, the 0.2000 psychological magnet and the late-2020 low near 0.1720 may gain the market’s attention.
Alternatively, 200-day SMA and the stated resistance line, respectively around 0.3000 and 0.3685, will guard the pair’s immediate recovery moves.
Should the XRp/USD buyers manage to conquer 0.3685, a descending resistance line from November 24, at 0.5130 now, will be in the spotlight.
XRP/USD daily chart
Trend: Further weakness expected
Additional important levels
|Today last price||0.283|
|Today Daily Change||-0.0047|
|Today Daily Change %||-1.63%|
|Today daily open||0.2877|
|Previous Daily High||0.316|
|Previous Daily Low||0.2526|
|Previous Weekly High||0.3703|
|Previous Weekly Low||0.2152|
|Previous Monthly High||0.6817|
|Previous Monthly Low||0.1719|
|Daily Fibonacci 38.2%||0.2768|
|Daily Fibonacci 61.8%||0.2918|
|Daily Pivot Point S1||0.2549|
|Daily Pivot Point S2||0.2221|
|Daily Pivot Point S3||0.1915|
|Daily Pivot Point R1||0.3183|
|Daily Pivot Point R2||0.3489|
|Daily Pivot Point R3||0.3817|
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.