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XRP/USD Technical Analysis: XRP recovers from Monday's drop but there is a resistance in sight

  • All of the major crypto's fell on Monday and XRP is trading 3.87% lower.
  • The XRP/USD price hit a low of 0.2408 but has recovered some of its losses.
XRP/USD Technical Analysis: XRP recovers from Monday's drop but there is a resistance in sight
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 30-Minute Chart

The 30-minute chart below shows the extent of the fall in cryptocurrencies on Monday afternoon.

XRP/USD at one stage traded 9.27% lower but now has recovered to trade only 3.87% lower at the time of writing.

There was no real catalyst for the move but some analysts have attributed the sell-off to the US Federal Reserve looking into a digital dollar.

On the chart, there is a clear resistance at 0.2567 that would need to be taken out to support a move higher.

The daily chart is still showing a clear downtrend since 0.5000 was hit on June 21st 2019.

XRP/USD technical analysis

Additional Levels

XRP/USD

Overview
Today last price0.2538
Today Daily Change-0.0097
Today Daily Change %-3.68
Today daily open0.2635
 
Trends
Daily SMA200.2858
Daily SMA500.2784
Daily SMA1000.2744
Daily SMA2000.3233
 
Levels
Previous Daily High0.2665
Previous Daily Low0.2594
Previous Weekly High0.3149
Previous Weekly Low0.2707
Previous Monthly High0.315
Previous Monthly Low0.2425
Daily Fibonacci 38.2%0.2638
Daily Fibonacci 61.8%0.2621
Daily Pivot Point S10.2597
Daily Pivot Point S20.256
Daily Pivot Point S30.2526
Daily Pivot Point R10.2668
Daily Pivot Point R20.2702
Daily Pivot Point R30.274

Author

Rajan Dhall, MSTA

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

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