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Ripple Technical Analysis: XRP/USD manages to hold the 0.22 level

  • Ripple trades 0.55% higher today on a mixed day for the major cryptocurrencies.
  • The market is consolidating and has moved into a descending wedge formation.
Ripple Technical Analysis: XRP/USD manages to hold the 0.22 level
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 1-Hour Chart

Ripple is still recovering from the massive price fall on the higher timeframes.

The bulls heavily defended the 0.20 level and now the price has managed to settle at 0.22.

The daily candles are still looking bearish but on the hourly chart, the price has moved into the wedge pattern shown below.

A break to 0.2220 would mean a pattern break to the upside, while the next support is at 0.2180.

Ripple Analysis

Additional Levels

XRP/USD

Overview
Today last price0.2208
Today Daily Change0.0009
Today Daily Change %0.41
Today daily open0.2199
 
Trends
Daily SMA200.2408
Daily SMA500.2705
Daily SMA1000.2668
Daily SMA2000.3172
 
Levels
Previous Daily High0.227
Previous Daily Low0.218
Previous Weekly High0.2356
Previous Weekly Low0.2015
Previous Monthly High0.3149
Previous Monthly Low0.2015
Daily Fibonacci 38.2%0.2214
Daily Fibonacci 61.8%0.2236
Daily Pivot Point S10.2162
Daily Pivot Point S20.2126
Daily Pivot Point S30.2072
Daily Pivot Point R10.2253
Daily Pivot Point R20.2307
Daily Pivot Point R30.2343

Author

Rajan Dhall, MSTA

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

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