TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Ripple
Sponsored by
Login
|

Ripple Price Analysis: XRP/USD struggles to build on Saturday's gains

  • XRP/USD snapped a three-day losing streak on Saturday.
  • $0.2000 aligns as a critical resistance that keeps bulls in check.
Ripple Price Analysis: XRP/USD struggles to build on Saturday's gains
Eren SengezerEren SengezerFXStreet

After falling for three straight days and losing nearly 3% during that period, Ripple (XRP/USD) rose sharply on Saturday and gained 2.85% to close near $0.2000. However, the pair seems to be having a tough time building on its recent gains and was last seen losing 1.12% on the day at $0.1980.

XRP/USD technical outlook

Although Ripple is edging lower on Sunday, it continues to trade above the 100-day SMA that it broke yesterday. Meanwhile, the RSI indicator on the daily chart is pulling away from Saturday's high of 60 but stays above 50, suggesting that the fall is a technical correction.

$0.2000 (Saturday high/psychological level) is a key resistance for XRP/USD. With a decisive break above that level, bulls can target $0.2025 (Fibonacci 50% retracement of May-July drop). On the other hand, supports are located at $0.1960 (100-day SMA), $0.1925 (50-day SMA) and $0.1900 (20-day SMA).

Author

Eren Sengezer

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

More from Eren Sengezer
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP extend decline, pressured by increasing ETF outflows

Crypto Today: Bitcoin, Ethereum, XRP extend decline, pressured by increasing ETF outflows

Cryptocurrencies are trading under pressure on Thursday, weighed down by risk-off sentiment driven by Middle East tensions and macroeconomic uncertainty. Bitcoin has extended its decline below $65,000 and is targeting the key support area at $60,000.

Bitcoin’s massive storm is back: Why the sell-off is far from over

Bitcoin’s massive storm is back: Why the sell-off is far from over

Bitcoin price action over the last few weeks has felt less like a normal, healthy correction and more like a slow grinding crash that continues to wreak havoc on holdings and trading accounts. And everything suggests that the dramatic crash isn’t over.

Hyperliquid and Near Protocol fall sharply as Arthur Hayes dumps HYPE and NEAR for Worldcoin

Hyperliquid and Near Protocol fall sharply as Arthur Hayes dumps HYPE and NEAR for Worldcoin

Hyperliquid (HYPE) and Near Protocol (NEAR) prices have dropped 11% and 17%, respectively, at press time on Thursday, erasing gains as the well-known investor Arthur Hayes dumps HYPE and NEAR holdings.

Pi Network hits record low as market-wide risk-off sentiment weighs

Pi Network hits record low as market-wide risk-off sentiment weighs

PI price hovers around $0.1300 at press time on Thursday, reflecting a mild rebound from the $0.1186 record low reached earlier on the day. Deposits totaling roughly 1 million PI tokens on exchanges over the last 24 hours suggest waning investor confidence amid a broader market risk-off sentiment.

Billions in ETF outflows don’t bode well

Billions in ETF outflows don’t bode well

Bitcoin (BTC) remains under pressure, trading below $74,000 on Friday, and is set to post its third consecutive week of losses. The institutional sell-off continues, with spot BTC Exchange-Traded funds (ETFs) recording billions in outflows. In addition, sticky inflation and macroeconomic headwinds suppress the Crypto King’s upside potential. Institutional demand continues to weaken so far this week.