Ripple Price Analysis: XRP flirts with the 55 daily EMA once again

XRP/USD trades half a percent lower on Tuesday as general crypto sentiment remains weak.
The 0.18 psychological level could be in focus once again if the EMA breaks.

Rajan Dhall, MSTA FX Daily

XRP/USD daily chart

XRP/USD has moved lower on Tuesday and the price is now testing the 55 exponential moving average (EMA) once again. Historically looking at the chart, the 55 EMA has been respected on a few occasions.

If the daily candle does closer lower on the session then the 0.18 support zone could be retested again. During December the market hit the aforementioned support level and the price moved higher with dramatic effect.

Between current levels and the 0.18 support zone, the 200 simple moving average could also provide some support so keep an eye there. Lastly, the two back trendlines on the chart could also provide some clarity. If the trendline on the downside does get taken out then it would be another sign that lower levels are on the cards.

Additional levels

XRP/USD

Overview
Today last price	0.2043
Today Daily Change	-0.0010
Today Daily Change %	-0.49
Today daily open	0.2053

Trends
Daily SMA20	0.2099
Daily SMA50	0.1972
Daily SMA100	0.2101
Daily SMA200	0.2214

Levels
Previous Daily High	0.208
Previous Daily Low	0.2012
Previous Weekly High	0.2162
Previous Weekly Low	0.178
Previous Monthly High	0.2358
Previous Monthly Low	0.1684
Daily Fibonacci 38.2%	0.2054
Daily Fibonacci 61.8%	0.2038
Daily Pivot Point S1	0.2016
Daily Pivot Point S2	0.198
Daily Pivot Point S3	0.1948
Daily Pivot Point R1	0.2085
Daily Pivot Point R2	0.2117
Daily Pivot Point R3	0.2154

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Stellar Price Forecast: XLM slips below $0.22 as bearish momentum builds

Stellar (XLM) price is trading below $0.22 at the time of writing on Wednesday after failing to close above the key resistance earlier this week. Bearish momentum continues to strengthen, with open interest falling and short bets rising.

Pi Network Price Forecast: PI struggles to rebound amid muted demand

Pi Network (PI) edges higher by almost 1% at press time on Wednesday, bouncing off the $0.2000 level after a four-day decline. The recovery lacks momentum as the social interest surrounding Pi Network declines. Technically, PI is at a crossroads, struggling for a rebound as momentum is lacking.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risks as breakout attempts falter

Ripple Price Analysis: XRP flirts with the 55 daily EMA once again