Ripple Price Analysis: XRP/USD eases inside short-term rising channel


  • XRP/USD steps back from intraday high while keeping the upside break of one-week-old falling trend line.
  • The 0.7400 round-figure can again probe the bulls, sellers have multiple filters to the downside before November 26 low.

XRP/USD drops to 0.6550 while stepping back from the latest high of 0.6767 during the early Tuesday. In doing so, the crypto major fades upside momentum inside a bullish chart pattern.

However, bullish MACD and sustained break of a falling trend line from November 24 keep the Ripple buyers hopeful towards again confronting the 0.7400 threshold.

Though, November 24 high near 0.7485 and the previous month’s peak surrounding 0.7845 can challenge the XRP/USD bulls afterward.

Alternatively, the downside break of the channel’s support, currently around 0.6220, will fetch the quote back to the previous resistance line, now support, near 0.5535/40.

Also acting as a downside filter could be last Tuesday’s low near 0.4580 that holds the key to Ripple’s further declines towards the sub-0.4000 area.

XRP/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 0.6596
Today Daily Change -50 pips
Today Daily Change % -0.75%
Today daily open 0.6646
 
Trends
Daily SMA20 0.4339
Daily SMA50 0.3221
Daily SMA100 0.2867
Daily SMA200 0.2531
 
Levels
Previous Daily High 0.6827
Previous Daily Low 0.5987
Previous Weekly High 0.7843
Previous Weekly Low 0.4036
Previous Monthly High 0.7843
Previous Monthly Low 0.228
Daily Fibonacci 38.2% 0.6506
Daily Fibonacci 61.8% 0.6308
Daily Pivot Point S1 0.6146
Daily Pivot Point S2 0.5647
Daily Pivot Point S3 0.5306
Daily Pivot Point R1 0.6986
Daily Pivot Point R2 0.7326
Daily Pivot Point R3 0.7826

 

 

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