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Ripple Price Analysis: XRP tests the psychological 0.20 level once again

  • Ripple's XRP trades nearly 2% lower on Wednesday and has moved toward to 0.20 level.
  • It looks like the price is heading lower and the 0.19 area is looking strong.
Ripple Price Analysis: XRP tests the psychological 0.20 level once again
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 4-hour chart

Ripple's XRP has moved lower on Wednesday as general crypto sentiment is poor on the session. If the price does move lower the green rectangle represents an area which has acted as a magnet for price in the past. This means it could be tested once again.

If the price does move beyond that, the black trendline underneath the price could be another level of support and if it is broken it could mean there is more weakness to come. There is another support zone at the purple line close to the 0.18 price. 

The Relative Strength Index indicator is also looking bearish as it has dipped below the 50 mid-line. At the moment the price is holding up at the 0.20 support level but it does look like its just a matter of time before its broken. Lastly, if the price does move higher the red line at 0.2050 is the resistance area. 

Ripple tests 0.20

Additional levels

XRP/USD

Overview
Today last price0.2013
Today Daily Change-0.0036
Today Daily Change %-1.76
Today daily open0.2049
 
Trends
Daily SMA200.2088
Daily SMA500.1978
Daily SMA1000.2094
Daily SMA2000.2209
 
Levels
Previous Daily High0.2065
Previous Daily Low0.2008
Previous Weekly High0.2162
Previous Weekly Low0.178
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.203
Daily Fibonacci 61.8%0.2044
Daily Pivot Point S10.2017
Daily Pivot Point S20.1984
Daily Pivot Point S30.196
Daily Pivot Point R10.2074
Daily Pivot Point R20.2098
Daily Pivot Point R30.2131

Author

Rajan Dhall, MSTA

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

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