Ripple's XRP Technical Analysis: XRP/USD vital game-changing support is being tested to the downside
- Ripple's XRP price returned under pressure on Monday, nursing losses of 0.80% at the start of the week.
- XRP/USD sees a critical daily ascending trend line supporting the price, preventing the sellers piling in.
- The bulls cannot progress unless the chunky area of supply is broken down from $0.3400-0.3600 range.
Spot rate: 0.31190
Relative change: -0.80%
High: 0.3160
Low: 0.3091
Trends:
Daily SMA20: 0.3185
Daily SMA50: 0.312
Daily SMA100: 0.3282
Daily SMA200: 0.3778
Levels:
Previous Daily High: 0.32
Previous Daily Low: 0.311
Previous Weekly High: 0.3236
Previous Weekly Low: 0.3011
Previous Monthly High: 0.3505
Previous Monthly Low: 0.2879
Daily Fibonacci 38.2%: 0.3144
Daily Fibonacci 61.8%: 0.3166
Daily Pivot Point S1: 0.3105
Daily Pivot Point S2: 0.3063
Daily Pivot Point S3: 0.3015
Daily Pivot Point R1: 0.3195
Daily Pivot Point R2: 0.3242
Daily Pivot Point R3: 0.3284
XRP/USD 60-minute chart
- Big near-term buying area around the $0.3050 level continues to prevent the price from free-falling.
XRP/USD daily chart
- A vital daily ascending trend line is providing critical support for XRP/USD.
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.
