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

Ripple Price Analysis: XRP/USD struggles to stay above $0.1900, as bears take control

  • XRP/USD recovered from the intraday low, but the upside is slow. 
  • Critical support is created by a psychological $0.1900.
Ripple Price Analysis: XRP/USD struggles to stay above $0.1900, as bears take control
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

XRP/USD tested the intraday low at $0.1855 and recovered back above $0.2000. At the time of writing, XRP/USD is changing hands at $0.1935; the short-term bias remains bearish, while the volatility is high. The price of the third-largest digital asset has gained nearly 2% since the start of the day, though it is still 3% lower from this time on Sunday.

XRP/USD: Technical picture

On the daily charts, XRP's recovery is limited by psychological $0.2000, which is reinforced by daily SMA50. However, above this barrier does not guarantee a sustainable recovery as a stronger resistance in the area $0.2030-$0.2040 may discourage the short-term bulls and push the price below $0.2000. The above-mentioned resistance zone includes daily SMA100 and SMA200 as long as 38.2%  Fibo retracement for the downside move from February 2020 high. If it is cleared, the recovery will gather pace and bring $0.2080 and $0.2100 into focus. 

On the downside, the initial support is created by $0.1900. Once it is out of the way, the sell-off is likely to gain traction with the next focus on the intraday low of $0.1855 and $0.1800.

XRP/USD daily chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Cardano: Under pressure as bearish derivatives cap recovery

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.