Ripple Technical Analysis: XRP heads back towards $0.50 as charts lean bearish

  • XRP/USD sellers return on Saturday as technicals lean bearish.
  • The No. 3 coin wavers in a potential rising wedge on the hourly chart.
  • Bearish 21-SMA on 4H chart offers stiff resistance on the road to recovery.

Ripple’s (XRP/USD) comeback from three-day lows appears to have lost traction on Saturday, as technical charts turn in favor of the bears in the near-term.

XRP/USD: Short-term technical outlook

XRP/USD: Hourly chart

Ripple wavers in a rising wedge formation on the hourly chart, eyeing a bearish breakdown. A rising wedge is a bearish continuation pattern, with an hourly close below the rising trendline support of 0.5431 needed to validate the formation.

The Relative Strength Index (RSI) has turned south and breaches the midline, suggesting that the bears back in control. Further, the bearish crossover adds credence to the bearish shift in the sentiment around the price. In early dealings, the 50-hourly moving average (HMA) pierced the 21-HMA from above, triggering the pullback.

To the downside, 50-HMA support at 0.5360 could offer some temporary reprieve to the bulls. Meanwhile, the 200-HMA cushion at 0.5062 is the level to beat for the bears.

Alternatively, a powerful upside barrier awaits at 0.6005, the confluence of the 100-HMA and rising trendline resistance. A sustained break above the latter is critical to reviving the recovery momentum.

XRP/USD: Four-hour chart

Looking at the four-hour chart, the bearish 21-simple moving average (SMA), now at 0.5798, is capping the recovery in XRP/USD. Note that the spot hasn’t closed above the 21-SMA since early Thursday.

Therefore, the bulls need a convincing break above that key barrier, in order to extend Friday’s comeback. The next relevant target is seen at 0.6000. On the flip side, the upward-sloping 50-SMA at 0.5110 could offer support. Further south, the ten-day-old ascending trendline support at 0.4961 could be put at risk.

The RSI has flipped into bearish territory, currently trading at 49.68, backing the case for the downside.

XRP/USD: Additional levels to consider


Today last price 0.5490
Today Daily Change -0.0134
Today Daily Change % -2.38
Today daily open 0.5624
Daily SMA20 0.377
Daily SMA50 0.2994
Daily SMA100 0.2763
Daily SMA200 0.2467
Previous Daily High 0.5891
Previous Daily Low 0.5035
Previous Weekly High 0.7843
Previous Weekly Low 0.4036
Previous Monthly High 0.2639
Previous Monthly Low 0.2288
Daily Fibonacci 38.2% 0.5564
Daily Fibonacci 61.8% 0.5362
Daily Pivot Point S1 0.5142
Daily Pivot Point S2 0.466
Daily Pivot Point S3 0.4286
Daily Pivot Point R1 0.5999
Daily Pivot Point R2 0.6373
Daily Pivot Point R3 0.6855



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Four crucial on-chain metrics suggest that Ethereum price rally has just begun as bulls target $3,000 first

Attention has shifted to Ethereum, the largest altcoin in the market after breaking out to a new record high of $1,446 (on Coinbase). Speculators, traders, and analysts agree that this is just the beginning of the rally, and Ether may have jumpstarted the altcoin season.

More Cryptocurrencies News

Crypto enthusiasts' sentiment suggests Bitcoin price is far from a market top

Bitcoin price stalled after failing to break the resistance at $40,000. As reported earlier this week, JPMorgan & Chase strategists believe that BTC will retreat if it fails to hit levels above $40,000. 

More Bitcoin News

VET breaks through consolidation phase targeting a new all-time high

VeChain is breaking out toward record highs after overcoming a critical resistance barrier around $0.03. Recovery has been consistent since last week. 

More VeChain news

LTC dives to critical support looking to rebound towards $200

Litecoin has been grinding higher since the recent breakdown to $110. Recovery was very consistent, but Litecoin failed to hold above $160, let alone clear the resistance at $170.

More Litecoin News


Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast