Ripple's XRP technical analysis: Ripping higher, rejected at resistance, remains bullish
- Ripple's XRP price rips higher and nears the monthly highs.
- While rejected at resistance, the technical picture has materially improved.
XRP/USD made a move to the upside after a few days of stagnation. The listless moves caused a perfect convergence of the 50 and 200 Simple Moving Averages on the four-hour chart, and now Ripple shoots above them.
It stopped at the March 1st high at 0.3280 before retreated back to the top of the previous range around 0.3200 which is fought over at the time of writing.
Above 0.3280, resistance awaits at 0.3410 that was a swing high in late February. Another level to watch from that time is 0.3475.
Looking down, 0.3075 was the low point in recent days. 0.3020 was a swing low and the lowest level in March. 0.2990 is next down the line.
The Relative Strength Index points higher but is under 70, thus not point to oversold conditions. The technical picture remains bullish.
Additional technical levels to watch:
XRP/USD
Overview:
Today Last Price: 0.3192
Today Daily change: 0.0076 pips
Today Daily change %: 2.44%
Today Daily Open: 0.3116
Trends:
Daily SMA20: 0.3168
Daily SMA50: 0.3117
Daily SMA100: 0.3271
Daily SMA200: 0.3777
Levels:
Previous Daily High: 0.3135
Previous Daily Low: 0.3076
Previous Weekly High: 0.3236
Previous Weekly Low: 0.3011
Previous Monthly High: 0.3505
Previous Monthly Low: 0.2879
Daily Fibonacci 38.2%: 0.3098
Daily Fibonacci 61.8%: 0.3112
Daily Pivot Point S1: 0.3083
Daily Pivot Point S2: 0.305
Daily Pivot Point S3: 0.3024
Daily Pivot Point R1: 0.3142
Daily Pivot Point R2: 0.3168
Daily Pivot Point R3: 0.3201
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
