XRP/USD technical analysis: We are about to see if XRP has run out of momentum

XRP/USD has broken the trendline to the downside but the price is still in a technical uptrend.
The 0.2821 support level is a strong one and has held firm in the past.

Rajan Dhall, MSTA FX Daily

XRP/USD has been one of the darlings of the crypto market over the last few weeks rising 9.42% since 24th September.

The 0.3000 resistance level is proving to be a tough nut to crack for the bulls and if the XRP/USD is to push higher it needs to break the psychological level,

The relative strength index (RSI) is showing signs of a momentum drop off as the price made high highs the indicator made lower highs.

At the moment, on the four-hour chart, the candlesticks are showing signs of indecision as they are forming Doji candles.

Also, the trendline broke lower on 20th October. This proved to be a false break as the XRP/USD price moved back above the trendline.

Subsequently, the price broke back below and is now retesting the trendline which could indicate there might be a move lower on the cards.

For now, the main resistance is 0.3038 and the key support lies at 0.2821.

XRP/USD

Overview
Today last price	0.292
Today Daily Change	-0.0027
Today Daily Change %	-0.92
Today daily open	0.2947

Trends
Daily SMA20	0.2726
Daily SMA50	0.2666
Daily SMA100	0.2825
Daily SMA200	0.3289

Levels
Previous Daily High	0.2972
Previous Daily Low	0.2819
Previous Weekly High	0.3041
Previous Weekly Low	0.2718
Previous Monthly High	0.327
Previous Monthly Low	0.2168
Daily Fibonacci 38.2%	0.2914
Daily Fibonacci 61.8%	0.2878
Daily Pivot Point S1	0.2854
Daily Pivot Point S2	0.276
Daily Pivot Point S3	0.2701
Daily Pivot Point R1	0.3006
Daily Pivot Point R2	0.3065
Daily Pivot Point R3	0.3159

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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