- XRP/USD eases from six-week top flashed during the weekend.
- Lower high, overbought RSI suggests further retracement, descending trend line from November limits short-term downside.
XRP/USD drops to 0.4605, currently around 0.4705, during the latest downtick during early Monday. In doing so, the altcoin prints the third day of lower high amid overbought RSI conditions.
As a result, intraday ripple bears are likely cheering the retracement that targets the previous resistance line from November 24, currently around 0.4100.
Also acting as the downside filters are 100-day and 50-day SMA, respectively around 0.3700 and 0.3370.
Meanwhile, an upside clearance of the recent high of 0.5167, also the highest since December 22, will recall the XRP/USD buyers targeting December tops surrounding 0.6580.
During the quote’s run-up beyond 0.6580, the 0.7000 threshold and November’s high of 0.7842 will be the key to watch.
Overall, XRP/USD remains in an uptrend backed by the latest trend line breakout but short-term pullback can’t be ruled out.
XRP/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||0.4712|
|Today Daily Change||-0.0244|
|Today Daily Change %||-4.92%|
|Today daily open||0.4956|
|Previous Daily High||0.51|
|Previous Daily Low||0.3878|
|Previous Weekly High||0.317|
|Previous Weekly Low||0.244|
|Previous Monthly High||0.5167|
|Previous Monthly Low||0.2109|
|Daily Fibonacci 38.2%||0.4633|
|Daily Fibonacci 61.8%||0.4344|
|Daily Pivot Point S1||0.4189|
|Daily Pivot Point S2||0.3422|
|Daily Pivot Point S3||0.2967|
|Daily Pivot Point R1||0.5411|
|Daily Pivot Point R2||0.5866|
|Daily Pivot Point R3||0.6633|
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