Ripple Price Analysis: XRP fades biggest rally in three weeks as bulls battle 21-day SMA


  • XRP/USD keeps buyers hopeful with a latest bounce off 0.5582.
  • Sustained break of 17-day-old falling trend line also favors the bulls.
  • 50-day SMA adds downside filters below the previous resistance line.

XRP/USD picks up the bids near 0.5660 during early Thursday. In doing so, the pair cheers its upside break of a key resistance while attacking the 21-day SMA to extend the rise.

Considering the receding strength of the MACD bearish histogram, coupled with a clear break of a falling trend line from November 24, XRP/USD buyers are likely to keep the reins.

In doing so, highs marked during the early month, around 0.6290 and 0.6820, will become their targets.

However, the 0.7000 psychological magnet and the record high of 0.7842, flashed in November, can challenge further upside.

Meanwhile, a pullback from 0.5755, comprising 21-day SMA, will eye the previous resistance line, at 0.5210, before revisiting the 50-day SMA near 0.4300.

Overall, the XRP/USD prices have defied consolidation from the record high and are likely heading north for the fresh top.

XRP/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 0.5661
Today Daily Change -0.0038
Today Daily Change % -0.67
Today daily open 0.5699
 
Trends
Daily SMA20 0.5758
Daily SMA50 0.4233
Daily SMA100 0.3344
Daily SMA200 0.2825
 
Levels
Previous Daily High 0.5748
Previous Daily Low 0.4375
Previous Weekly High 0.6289
Previous Weekly Low 0.504
Previous Monthly High 0.7843
Previous Monthly Low 0.228
Daily Fibonacci 38.2% 0.5224
Daily Fibonacci 61.8% 0.49
Daily Pivot Point S1 0.48
Daily Pivot Point S2 0.3901
Daily Pivot Point S3 0.3427
Daily Pivot Point R1 0.6173
Daily Pivot Point R2 0.6647
Daily Pivot Point R3 0.7546

 

 

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