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Ripple's XRP technical analysis: XRP/USD dealt with big losses; dropping 9%

  • Ripple's XRP price on Thursday is trading firmly in the red by a chunky 9%. 
  • XRP/USD suffered a big hammer blow, after attempting to retest the $0.5000 area on Wednesday. 
  • Given downside pressure, once again the psychological $0.4000 mark will be eyed for a potential retest. 
Ripple's XRP technical analysis: XRP/USD dealt with big losses; dropping 9%
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.4215

Relative change:      -9.05%

High:                        0.4656

Low:                         0.4078

XRP/USD

Overview
Today last price0.422
Today Daily Change-0.0390
Today Daily Change %-8.46
Today daily open0.461
 
Trends
Daily SMA200.4294
Daily SMA500.4064
Daily SMA1000.3635
Daily SMA2000.3447
Levels
Previous Daily High0.494
Previous Daily Low0.4359
Previous Weekly High0.4628
Previous Weekly Low0.4082
Previous Monthly High0.4741
Previous Monthly Low0.2917
Daily Fibonacci 38.2%0.4581
Daily Fibonacci 61.8%0.4718
Daily Pivot Point S10.4332
Daily Pivot Point S20.4055
Daily Pivot Point S30.3751
Daily Pivot Point R10.4914
Daily Pivot Point R20.5218
Daily Pivot Point R30.5495

XRP/USD 15-minute chart

  • Price action via the 15-minute chart view is moving within a bearish pennant structure, subject to a potential breach. 

XRP/USD daily chart

  • XRP bulls failed to reclaim the $0.5000 mark, market another failure following the push higher over the weekend. 

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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