- XRP/USD eases from intraday high, fades bounce off key support confluence.
- Bearish MACD, weak RSI suggests sluggish moves but no harm to the corrective pullback.
- 50-bar SMA, weekly resistance line guard immediate upside.
Ripple consolidates recent gains while witnessing a pullback from the day’s high of $0.5305 to currently down 1.25% near $0.5130 during early Wednesday. It’s worth mentioning that the latest weakness accompanies downbeat MACD and RSI conditions.
Even so, the XRP/USD prices keep the previous day’s recovery moves from $0.4880-40 support confluence comprising 100-bar SMA and an ascending support line from February 02.
As a result, XRP/USD buyers should stay hopeful to clear the immediate hurdles marked by 50-bar SMA and a downward sloping trend line from Sunday, respectively around $0.5460 and $0.5600.
During the quote’s run-up beyond the $0.5600 resistance, the monthly falling trend line near $0.6150 will lure the bulls.
Meanwhile, a downside break of $0.4880-40 support-zone will not hesitate to attack the $0.4000 threshold before directing XRP/USD sellers toward the monthly low of $3405.
XRP/USD four-hour chart
Trend: Further recovery expected
Additional important levels
|Today last price||0.5122|
|Today Daily Change||-77 pips|
|Today Daily Change %||-1.48%|
|Today daily open||0.5199|
|Previous Daily High||0.5803|
|Previous Daily Low||0.4819|
|Previous Weekly High||0.6247|
|Previous Weekly Low||0.3911|
|Previous Monthly High||0.5167|
|Previous Monthly Low||0.2109|
|Daily Fibonacci 38.2%||0.5195|
|Daily Fibonacci 61.8%||0.5427|
|Daily Pivot Point S1||0.4745|
|Daily Pivot Point S2||0.429|
|Daily Pivot Point S3||0.3761|
|Daily Pivot Point R1||0.5728|
|Daily Pivot Point R2||0.6258|
|Daily Pivot Point R3||0.6712|
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