- 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.
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
Additional important levels
|Today last price||0.5476|
|Today Daily Change||-0.0181|
|Today Daily Change %||-3.20%|
|Today daily open||0.5657|
|Previous Daily High||0.6494|
|Previous Daily Low||0.5149|
|Previous Weekly High||0.6406|
|Previous Weekly Low||0.4819|
|Previous Monthly High||0.5167|
|Previous Monthly Low||0.2109|
|Daily Fibonacci 38.2%||0.5981|
|Daily Fibonacci 61.8%||0.5663|
|Daily Pivot Point S1||0.504|
|Daily Pivot Point S2||0.4422|
|Daily Pivot Point S3||0.3694|
|Daily Pivot Point R1||0.6385|
|Daily Pivot Point R2||0.7112|
|Daily Pivot Point R3||0.773|
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