Ripple Technical Analysis: XRP/USD ravages through $0.20 support in fresh December declines

Ripple painfully thrust through the critical support areas at $0.2200, $0.2100, and $0.2000.
The technical picture for XRP is bearish, but the shrinking volatility hints an end to the downward momentum.

Spot rate: $0.1991

Relative change: 0.006745

Percentage change: 3.28%

Trend: Bearish

Volatility: Shrinking

XBT/USD daily chart

In spite of the losses under $0.2000, XRP is still trading within the confines of a falling wedge pattern.

An immediate reaction to the wedge pattern will form Ripple’s recovery trajectory towards the psychological $0.3000.

The RSI displays oversold conditions for XRP. In other words, a reversal could be in the offing.

XRP/USD 4-hour chart

Ripple continues to pull further away from the descending trendline resistance, making recovery a pipe dream.

If bulls do not push for recovery above $0.2000, the short term support at $0.1900 will remain in jeopardy.

XRP/USD

Overview
Today last price	0.1991
Today Daily Change	-0.0068
Today Daily Change %	-3.30
Today daily open	0.2059

Trends
Daily SMA20	0.222
Daily SMA50	0.2516
Daily SMA100	0.2608
Daily SMA200	0.3043

Levels
Previous Daily High	0.2177
Previous Daily Low	0.2026
Previous Weekly High	0.233
Previous Weekly Low	0.2154
Previous Monthly High	0.3149
Previous Monthly Low	0.2015
Daily Fibonacci 38.2%	0.2083
Daily Fibonacci 61.8%	0.2119
Daily Pivot Point S1	0.1997
Daily Pivot Point S2	0.1935
Daily Pivot Point S3	0.1845
Daily Pivot Point R1	0.2149
Daily Pivot Point R2	0.2239
Daily Pivot Point R3	0.23

Share: Cryptos feed

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram