- 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
|Today last price||0.5058|
|Today Daily Change||-0.0112|
|Today Daily Change %||-2.17%|
|Today daily open||0.517|
|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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