• XRP/USD battles 50-day SMA during a corrective pullback from the lowest in one week.
  • Momentum indicator, two-month-old support line suggests consolidation of recent losses.
  • 100-day SMA, yearly support line add to the downside filters.

Ripple picks up bids to $0.4903, up nearly 2.0% intraday, during early Thursday. The altcoin dropped to the lowest since March 16 the previous day but bounced off before testing an ascending support line from February 23.

Given the upward sloping momentum indicators and the quote’s sustained trading beyond a short-term support line, XRP/USD buyers pierce 50-day SMA. However, the pair’s further upside needs to provide a decisive closing beyond the two-month-old horizontal line surrounding $0.4950 to offer confirmation of an extra run-up.

During Ripple’s rally beyond $0.4950, the mid-March top around $0.5200 and the monthly peak close to $0.6000 will be crucial to watch.

Meanwhile, extended failures to regain past-50-day SMA level of $0.4870 can keep fears of breaking the stated support line, at $0.4488 by the press time.

In a case where XRP/USD drops below $0.4488 on a daily closing basis, 100-day SMA and a bit broader support line from December 29, 2020, respectively around 0.4065 and $0.3800, will be in the spotlight.

XRP/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.4839
Today Daily Change 0.0039
Today Daily Change % 0.81%
Today daily open 0.48
 
Trends
Daily SMA20 0.4757
Daily SMA50 0.4853
Daily SMA100 0.4064
Daily SMA200 0.3676
 
Levels
Previous Daily High 0.5628
Previous Daily Low 0.4519
Previous Weekly High 0.5204
Previous Weekly Low 0.4227
Previous Monthly High 0.7565
Previous Monthly Low 0.3406
Daily Fibonacci 38.2% 0.4943
Daily Fibonacci 61.8% 0.5204
Daily Pivot Point S1 0.4337
Daily Pivot Point S2 0.3874
Daily Pivot Point S3 0.3229
Daily Pivot Point R1 0.5446
Daily Pivot Point R2 0.6091
Daily Pivot Point R3 0.6554

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Here’s the list of crypto exchanges that will support Terra’s LUNA hard fork

Cryptocurrency exchanges are on board Terra’s LUNA hard fork and Do Kwon’s plan for the Terraform Labs token’s rebirth. Do Kwon has garnered support from leading cryptocurrency exchanges for the new Terra chain. 

More Terra News

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Breaking: Ethereum breaks below $1,900 as selling pressure accelerates

Ethereum dipped below the $1,900 support level over the past few hours. A decisive close below such a vital demand zone will put ETH at risk of a 38% correction toward $1,200. 

More Ethereum News

A big price move is coming for Binance Coin; here’s what to look out for

A big price move is coming for Binance Coin; here’s what to look out for

A brief technical and on-chain analysis on Binance Coin price. Here, FXStreet's analysts evaluate where BNB could be heading next. 

More Binance Coin News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos Ready - set - RALLY!

Bitcoin price, Ethereum and other cryptocurrencies are stabilising after the cryptocurrency space got slaughtered last week and two weeks ago.

More Bitcoin News

Bitcoin: The last rebound before capitulation

Bitcoin: The last rebound before capitulation

Bitcoin is showing bullish signs in the lower time frames, which can be taken advantage of by traders in the next couple of days. But looking at BTC from the higher time frames suggests that the bottom is not in yet.

Read full analysis

BTC

ETH

XRP