• Ripple picks up bids after snapping a four-day winning streak.
  • Successful break of five-week-old resistance, trading beyond 50-day SMA and an ascending trend line from January 27 back bulls.
  • Sellers should look for entries below $0.4300, buyers may wait for fresh monthly high.

XRP/USD fails to keep the sellers on board, despite recent declines, as the quote firms up around mid-$0.4600s during early Thursday. The altcoin took a U-turn from a two-week-old resistance line the previous day but couldn’t extend the losses to even the nearest support, namely the 50-day SMA.

Also favoring ripple buyers could be the XRP/USD trading above a six-week-long support line and a clear run-up beyond the previous resistance line from February 01, not to forget the receding bearish bias of the MACD.

That said, the XRP/USD bulls currently eye the monthly top near $0.4950 ahead of the targeting the $0.5000 threshold.

During the quote’s sustained run-up past-$0.5000, $0.5830 and the mid-February tops near $0.6430 should be watched before the previous month’s top of $0.7564.

Should XRP/USD stays weak below the stated resistance line, currently around $0.4900, sellers can keep a 50-day SMA level of $0.4390 on the radar.

Though, a confluence of previous resistance and an ascending trend line from late January, currently around $0.4300, will be a tough nut to crack for the XRP/USD bears.

Overall, ripple buyers hold the reins but look for conviction before flashing notable gains.

XRP/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 0.4663
Today Daily Change -0.0192
Today Daily Change % -3.95%
Today daily open 0.4855
 
Trends
Daily SMA20 0.4768
Daily SMA50 0.4359
Daily SMA100 0.4215
Daily SMA200 0.3522
 
Levels
Previous Daily High 0.4876
Previous Daily Low 0.4717
Previous Weekly High 0.4945
Previous Weekly Low 0.3934
Previous Monthly High 0.7565
Previous Monthly Low 0.3406
Daily Fibonacci 38.2% 0.4815
Daily Fibonacci 61.8% 0.4778
Daily Pivot Point S1 0.4756
Daily Pivot Point S2 0.4657
Daily Pivot Point S3 0.4597
Daily Pivot Point R1 0.4915
Daily Pivot Point R2 0.4975
Daily Pivot Point R3 0.5075

 

 

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