Ripple Price Analysis: XRP extends losses following failure to cross $0.5500 hurdle


  • XRP/USD extends weekend pullback as bears battle short-term key support line.
  • Downbeat RSI, U-turn from 38.2% Fibonacci retracement of late December to early February favors sellers.
  • Bulls need to cross $0.5830 to retake controls.

Ripple bears return to the table after a miss in crossing the $0.5500 hurdle, currently down 2.94% to $0.5030, during early Monday. In doing so, the altcoin sellers attack the previous key resistance line from February 01 amid downbeat RSI.

Given the XRP/USD sellers’ recent dominance, a clear break of the stated support line, previous resistance, near $0.5050 seems imminent, which in turn could recall the $0.5000 threshold on the chart.

However, a confluence of 21-day SMA and 50% Fibonacci retracement level, currently around $0.4650, could challenge the XRP/USD bears afterward.

Alternatively, a bounce off the nearby support line, at $0.5050, will have to cross the $0.5500 resistance before eyeing the late February tops near $0.5800.

In a case where the XRP/USD gains past-$0.5800, the $0.6000 round-figure and February 22 top surrounding $0.6500 will lure the bulls.

XRP/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.5058
Today Daily Change -0.0112
Today Daily Change % -2.17%
Today daily open 0.517
 
Trends
Daily SMA20 0.4653
Daily SMA50 0.4787
Daily SMA100 0.4058
Daily SMA200 0.3634
 
Levels
Previous Daily High 0.5463
Previous Daily Low 0.4954
Previous Weekly High 0.5204
Previous Weekly Low 0.4227
Previous Monthly High 0.7565
Previous Monthly Low 0.3406
Daily Fibonacci 38.2% 0.5148
Daily Fibonacci 61.8% 0.5268
Daily Pivot Point S1 0.4928
Daily Pivot Point S2 0.4686
Daily Pivot Point S3 0.4419
Daily Pivot Point R1 0.5438
Daily Pivot Point R2 0.5705
Daily Pivot Point R3 0.5947

 

 

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