- XRP/USD takes the bids near intraday high, rises for fourth consecutive day.
- Convergence of 200-bar SMA, two-week-old falling trend line tests the bulls.
- A resistance line from February 13 adds to the upside filters.
Ripple buyers shouldn’t too optimistic as multiple hurdles are up for offering a bumpy road despite the latest four-day winning streak. That said, XRP/USD stays firm at around $0.4850 during early Wednesday.
The altcoin’s current run-up eyes a confluence of 200-bar SMA and a short-term resistance line around $0.4910-30.
However, any further upside seems less likely as MACD lacks courage. Even if the quote crosses the $0.4930 resistance, a downward sloping trend line from February 13, at $0.5320 now, will challenge the XRP/USD bulls.
On the contrary, pullback moves will be tested by a one-week-old rising support line, at $0.4650 now, a break of which could direct XRP/USD sellers toward another support trend line stretched from February 23, currently around $0.4385.
It should be noted that a clear downside past-$0.4385 will make the XRP/USD vulnerable to revisit the previous month’s low near $0.3660.
XRP/USD four-hour chart
Trend: Pullback expected
additional important levels
|Today last price||0.4843|
|Today Daily Change||0.0102|
|Today Daily Change %||2.15%|
|Today daily open||0.4741|
|Previous Daily High||0.4896|
|Previous Daily Low||0.4552|
|Previous Weekly High||0.4945|
|Previous Weekly Low||0.3934|
|Previous Monthly High||0.7565|
|Previous Monthly Low||0.3406|
|Daily Fibonacci 38.2%||0.4764|
|Daily Fibonacci 61.8%||0.4683|
|Daily Pivot Point S1||0.4563|
|Daily Pivot Point S2||0.4386|
|Daily Pivot Point S3||0.422|
|Daily Pivot Point R1||0.4907|
|Daily Pivot Point R2||0.5073|
|Daily Pivot Point R3||0.5251|
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