Ripple Technical Analysis: XRP/USD finds support at the hourly trendline

Ripple has moved 0.73% lower today as general crypto sentiment remains weak.
There is a trendline on the hourly chart that has been tested and the market found support.

Rajan Dhall, MSTA FX Daily

XRP/USD Hourly Chart

Ripple has consolidated on the hourly chart after dropping from 0.2338 to 0.2197.

The market has made a few higher lows but now looks to be testing lower levels.

0.22 is the psychological support zone and if taken out, could indicate lower levels are on the cards.

On the topside the bulls are looking to target the next resistance is at 0.2247 and if the price is to retest the 0.2338 level the first support needs to be taken out with good volume.

Additional Levels

XRP/USD

Overview
Today last price	0.2218
Today Daily Change	-0.0012
Today Daily Change %	-0.54
Today daily open	0.223

Trends
Daily SMA20	0.2255
Daily SMA50	0.2602
Daily SMA100	0.2634
Daily SMA200	0.31

Levels
Previous Daily High	0.2258
Previous Daily Low	0.2194
Previous Weekly High	0.2279
Previous Weekly Low	0.2104
Previous Monthly High	0.3149
Previous Monthly Low	0.2015
Daily Fibonacci 38.2%	0.2218
Daily Fibonacci 61.8%	0.2233
Daily Pivot Point S1	0.2196
Daily Pivot Point S2	0.2163
Daily Pivot Point S3	0.2132
Daily Pivot Point R1	0.2261
Daily Pivot Point R2	0.2291
Daily Pivot Point R3	0.2325

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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