Ripple's XRP Technical Analysis: XRP/USD failure to breach firmly above $0.4000 could see gains completely reversed


  • Ripple's XRP was seen holding decent gains in the latter stages of Wednesday, up just shy of 8%.
  • XRP/USD must breakdown $0.4000 region for greater upside, otherwise the price could be sent back south. 
  • Price produces a double top area, sees XRP/USD eases off the session high.

 

XRP/USD 4-hour chart

 
 

Spot rate:                  0.3912

Relative change:      +8.02%

High:                         0.3635

Low:                          0.3629

 

Trend:                        Bullish

 

Resistance 1:             0.3950, double top area.

Resistance 2:             0.4000, psychological resistance. 

Resistance 3:             0.4082, daily pivot point resistance. 

Support 1:                  0.3457, daily pivot point support.

Support 2:                  0.3286, daily pivot point support.

Support 3:                  0.3145, daily pivot point support.

 

 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD confluence detector shows lack of resistance and support levels

The hourly BTC/USD price chart shows us that the price dropped from $10,130 to $9,815 this Thursday. The bulls then gathered momentum before it picked up to $10,190, meeting resistance.

More Bitcoin News

Crypto market update: Bulls march back into the market after two straight days of bearish domination

Following two straight bearish sessions, the bulls roared back violently. Ethereum Classic and IOTA records double-digit profits after massively bullish day. Stellar is the only coin among ...

More Cryptocurrencies News

Ethereum Classic technical analysis: ETC/USD went up by 17.58% this Thursday

Ethereum Classic has strung together three bullish days in a row. This Thursday has been extremely bullish, wherein the price has gone up from $6.15 to $7.22 this Thursday. 

More Ethereum Classic News

LTC/BTC: Litecoin finally finds some support but how long will it last?

BTC/LTC has moved higher on the 30-min timeframe and is now in a retracement phase. The price has stopped just before the 38.2% Fibonacci level and the 0.0072 support zone.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP