Ripple Price Forecast: XRP sellers eye $0.4300 amid sustained trading below key upside hurdles


  • XRP/USD snaps two-day winning streak, eases towards intraday low off-late.
  • Failures to cross 200-SMA, three-week-old resistance line favor sellers.
  • Ascending trend line from February 23 lures bears, 1.5-month-long falling resistance line adds to the upside filters.

Ripple sellers look set to retake the controls while flashing 0.50% intraday loss, currently around $0.4674, to tease the intraday low of $0.4667 during early Thursday. In doing so, the altcoin drops for the first time in a week while justifying the failures to cross immediate resistances.

Not only the pullback from 200-SMA and three-week-old resistance but successful trading below a downward sloping trend line from February 01 also favor XRP/USD bears.

As a result, the lower line of the short-term ascending triangle formation, around $0.4300 seems to lure the XRP/USD sellers for now.

However, a clear downside break of the same may not hesitate to challenge an ascending trend line from February 02, currently around $0.3900.

On the flip side, a clear break of the stated SMA and immediate resistance line, around $0.4855-75 needs to cross a bit longer falling trend line, at $0.5295 now, to recall the XRP/USD bulls.

Overall, XRP/USD is likely to witness further downside but the bears should remain cautious until witnessing sustained trading below $0.4300.

XRP/USD four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.4676
Today Daily Change -21 pips
Today Daily Change % -0.45%
Today daily open 0.4697
 
Trends
Daily SMA20 0.4527
Daily SMA50 0.464
Daily SMA100 0.4086
Daily SMA200 0.3592
 
Levels
Previous Daily High 0.4819
Previous Daily Low 0.4537
Previous Weekly High 0.4896
Previous Weekly Low 0.4231
Previous Monthly High 0.7565
Previous Monthly Low 0.3406
Daily Fibonacci 38.2% 0.4712
Daily Fibonacci 61.8% 0.4645
Daily Pivot Point S1 0.455
Daily Pivot Point S2 0.4402
Daily Pivot Point S3 0.4267
Daily Pivot Point R1 0.4832
Daily Pivot Point R2 0.4967
Daily Pivot Point R3 0.5114

 

 

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