Ripple Price Analysis: XRP pulls back from 200-day SMA, multi-day-old support lines in focus

XRP/USD fades corrective recovery from five-month low, prints intraday gains.
Failure to cross 200-day SMA redirects sellers toward ascending trend lines from June and March.
Oversold RSI conditions negate further downside, August top can lure buyers beyond the key SMA.

XRP/USD eases from the intraday top near 0.3058 to 0.2730 during early Thursday. In doing so, the Ripple pair fails to keep the bounce off key support lines while taking a U-turn from 200-day SMA.

The crypto major dropped to the lowest since late July the previous day amid fundamental concerns relating to delisting of the Ripple from Hong Kong’s exchange.

While fundamentals keep the bears hopeful, not to forget the pair’s inability to cross 200-day SMA, oversold RSI favors further consolidation of losses.

As a result, a clear upside past-200-day SMA level near 0.2935 will propel XRP/USD towards an August high near 0.3280. However, any further rise will not hesitate to recall the early month low near 0.4375.

Alternatively, a clear downside below the stated support lines around 0.2535 and 0.2520 can take rest near April top surrounding 0.2355 before challenging September’s bottom of 0.2197 and the latest multi-month low of 0.2126.

XRP/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.2774
Today Daily Change	0.0174
Today Daily Change %	6.69%
Today daily open	0.26

Trends
Daily SMA20	0.5349
Daily SMA50	0.46
Daily SMA100	0.3525
Daily SMA200	0.2929

Levels
Previous Daily High	0.4477
Previous Daily Low	0.2126
Previous Weekly High	0.6578
Previous Weekly Low	0.4375
Previous Monthly High	0.7843
Previous Monthly Low	0.228
Daily Fibonacci 38.2%	0.3024
Daily Fibonacci 61.8%	0.3579
Daily Pivot Point S1	0.1658
Daily Pivot Point S2	0.0717
Daily Pivot Point S3	-0.0692
Daily Pivot Point R1	0.4009
Daily Pivot Point R2	0.5418
Daily Pivot Point R3	0.6359

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