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Ripple Price Prediction: Monthly ascending triangle defends XRP bulls

  • XRP/USD fades upside momentum, snaps two-day winning streak.
  • Strong RSI, convergence of 100-bar SMA, three-week-old support line challenge bears.
  • Upward sloping 200-bar SMA adds to the downside filters.
  • Short-term triangle resistance guards recovery moves ahead of monthly top.
Ripple Price Prediction: Monthly ascending triangle defends XRP bulls
Anil PanchalAnil PanchalFXStreet

XRP/USD sellers attack the $0.5500 threshold during the latest pullback amid early Tuesday. In doing so, the ripple prices step back from a three-week-old ascending triangle’s resistance line.

However, strong RSI conditions join 100-bar SMA and the stated triangle’s support near $0.5300, to challenge the XRP/USD bears.

If at all the XRP/USD prices drop below $0.5300, a 200-bar SMA level of $0.4340 will question the sellers targeting the monthly low of $0.3405.

Meanwhile, recovery moves may again target the stated triangle’s resistance, around $0.6450.

Though, any further upside will have to cross the monthly top surrounding $0.7565 to keep the XRP/USD bulls happy.

Overall, ripple is on the positive side of the momentum but lacks courage off-late.

XRP/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price0.5476
Today Daily Change-0.0181
Today Daily Change %-3.20%
Today daily open0.5657
 
Trends
Daily SMA200.514
Daily SMA500.3856
Daily SMA1000.423
Daily SMA2000.3402
 
Levels
Previous Daily High0.6494
Previous Daily Low0.5149
Previous Weekly High0.6406
Previous Weekly Low0.4819
Previous Monthly High0.5167
Previous Monthly Low0.2109
Daily Fibonacci 38.2%0.5981
Daily Fibonacci 61.8%0.5663
Daily Pivot Point S10.504
Daily Pivot Point S20.4422
Daily Pivot Point S30.3694
Daily Pivot Point R10.6385
Daily Pivot Point R20.7112
Daily Pivot Point R30.773

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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