Ripple Price Prediction: XRP targets $0.60 after crucial rebound


  • 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

Overview
Today last price 0.5122
Today Daily Change -77 pips
Today Daily Change % -1.48%
Today daily open 0.5199
 
Trends
Daily SMA20 0.4632
Daily SMA50 0.3473
Daily SMA100 0.406
Daily SMA200 0.333
 
Levels
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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