• XRP price re-attempts 21-DMA barrier but bullish potential appears limited.
  • Impending bear cross on the 4H chart keeps the sellers hopeful.
  • The path of least resistance appears down despite the tepid bounce.

XRP price is trading almost unchanged on the day around $0.6200, alternating between gains and losses so far this Sunday.

In doing so, Ripple's price is wavering within Saturday’s trading range, finding some support from a renewed bid wave that grips the crypto market in the last hour.  

Despite the Securities and Exchange Commission [SEC] several attempts to prove XRP as an unregistered security, the US regulator’s failure to provide crucial evidence questioning Ripple’s utility keeps the downside cushioned in XRP/USD (for now).

How is XRP price positioned on the technical graph?

The XRP price is consolidating in a narrow range, with a test of the bearish 21-Simple Moving Average (SMA) at $0.6247 now underway.

Should the XRP bulls find a strong foothold above the latter, a fresh upswing towards the $0.6510-$0.6520 region cannot be ruled.

That supply zone is nearly where the 100 and 50-SMAs coincide.

Further up, the buyers would flex their muscles to reach out to the $0.6600 round number.

XRP/USD: Four-hour chart

However, with the Relative Strength Index (RSI) still trending below the central line, the downside bias is likely to remain in place.

Adding credence to the recent downtrend, the 50-SMA is on the verge of cutting the 100-SMA from above, which if confirmed could chart a bear cross – a bearish signal.

Subsequently, the immediate downside target is seen at $0.60000, the psychological level.

Next of relevance remains the July 9 low at $0.5917, which is expected to offer some respite to the XRP bulls.

XRP/USD: Additional technical levels to consider

XRP/USD

Overview
Today last price 0.6237
Today Daily Change -0.0012
Today Daily Change % -0.19
Today daily open 0.6249
 
Trends
Daily SMA20 0.6469
Daily SMA50 0.8012
Daily SMA100 1.0639
Daily SMA200 0.7352
 
Levels
Previous Daily High 0.6485
Previous Daily Low 0.6127
Previous Weekly High 0.7093
Previous Weekly Low 0.5917
Previous Monthly High 1.0999
Previous Monthly Low 0.5099
Daily Fibonacci 38.2% 0.6264
Daily Fibonacci 61.8% 0.6348
Daily Pivot Point S1 0.6089
Daily Pivot Point S2 0.5929
Daily Pivot Point S3 0.573
Daily Pivot Point R1 0.6447
Daily Pivot Point R2 0.6645
Daily Pivot Point R3 0.6805

 

 

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