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Ripple's XRP Technical Analysis: XRP/USD bulls once again are stopped short by hard resistance at $0.40

  • Ripple's XRP price trading up over 8% into the second half of the session on Wednesday.
  • XRP/USD bulls were stopped short in the run so far, by stubborn resistance at $0.40. 
XRP/USD 15-minute chart
 

Spot rate:                  0.3861

Relative change:      +8.12%

High:                         0.3993

Low:                          0.3515

Trend:                        Bullish

Resistance 1:             0.3968, daily pivot point resistance.

Resistance 2:             0.4000, psychological resistance. 

Resistance 3:             0.4500, 21st November high area.

Support 1:                  0.3361, daily pivot point support.

Support 2:                  0.3159, daily pivot point support.

Support 3:                  0.3057, daily pivot point support.

XRP/USD 60-minute chart

  • Barrier around the $0.4000 price area, XRP/USD not been above since 24 November.

XRP/USD 4-hour chart

  • Next major resistance can be eyed at supply tracking form $112-114. 

Author

Ken Chigbo

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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