- XRP/USD snaps two-day winning streak, eases towards intraday low off-late.
- Failures to cross 200-SMA, three-week-old resistance line favor sellers.
- Ascending trend line from February 23 lures bears, 1.5-month-long falling resistance line adds to the upside filters.
Ripple sellers look set to retake the controls while flashing 0.50% intraday loss, currently around $0.4674, to tease the intraday low of $0.4667 during early Thursday. In doing so, the altcoin drops for the first time in a week while justifying the failures to cross immediate resistances.
Not only the pullback from 200-SMA and three-week-old resistance but successful trading below a downward sloping trend line from February 01 also favor XRP/USD bears.
As a result, the lower line of the short-term ascending triangle formation, around $0.4300 seems to lure the XRP/USD sellers for now.
However, a clear downside break of the same may not hesitate to challenge an ascending trend line from February 02, currently around $0.3900.
On the flip side, a clear break of the stated SMA and immediate resistance line, around $0.4855-75 needs to cross a bit longer falling trend line, at $0.5295 now, to recall the XRP/USD bulls.
Overall, XRP/USD is likely to witness further downside but the bears should remain cautious until witnessing sustained trading below $0.4300.
XRP/USD four-hour chart
Trend: Further weakness expected
ADDITIONAL IMPORTANT LEVELS
|Today last price||0.4676|
|Today Daily Change||-21 pips|
|Today Daily Change %||-0.45%|
|Today daily open||0.4697|
|Previous Daily High||0.4819|
|Previous Daily Low||0.4537|
|Previous Weekly High||0.4896|
|Previous Weekly Low||0.4231|
|Previous Monthly High||0.7565|
|Previous Monthly Low||0.3406|
|Daily Fibonacci 38.2%||0.4712|
|Daily Fibonacci 61.8%||0.4645|
|Daily Pivot Point S1||0.455|
|Daily Pivot Point S2||0.4402|
|Daily Pivot Point S3||0.4267|
|Daily Pivot Point R1||0.4832|
|Daily Pivot Point R2||0.4967|
|Daily Pivot Point R3||0.5114|