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Ripple's XRP Technical Analysis: XRP/USD big trouble looms

XRP price in the second part of the day on Tuesday was trading within negative territory, down some 1.35%.
XRP/USD is forced to seek safety in a critical area of demand, $0.29-0.28 range.
The psychological $0.3000 mark is a serious danger of being completely out of reach.

Ken Chigbo Independent Analyst

Spot rate: 0.2982

Relative change: -1.35%

High: 0.3032

Low: 0.2869

Trend: Neutral

XRP/USD

Overview
Today last price	0.2983
Today Daily Change	-0.0043
Today Daily Change %	-1.42
Today daily open	0.3026

Trends
Daily SMA20	0.3143
Daily SMA50	0.3128
Daily SMA100	0.3266
Daily SMA200	0.3765

Levels
Previous Daily High	0.3088
Previous Daily Low	0.3005
Previous Weekly High	0.3232
Previous Weekly Low	0.3048
Previous Monthly High	0.4607
Previous Monthly Low	0.2816
Daily Fibonacci 38.2%	0.3037
Daily Fibonacci 61.8%	0.3056
Daily Pivot Point S1	0.2992
Daily Pivot Point S2	0.2957
Daily Pivot Point S3	0.291
Daily Pivot Point R1	0.3074
Daily Pivot Point R2	0.3122
Daily Pivot Point R3	0.3156

XRP/USD 60-minute chart

Price quickly reversed after firmly breached $0.3000 area, big buyers quickly coming into defence, pin bar candlestick formed.

XRP/USD daily chart

The bears are in control holding small losses for now, however on the brink of drawing much blood.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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XRP/USD

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