The XRPUSD pair is facing a lot of selling pressure and consolidating above the daily support level. Check out the 28-29 March Ripple Technical Prediction.
28 March, AtoZForex – The Ripple or XRPUSD is trading below the $0.60 mark with a total volume (in 24 hours) of US$ 34 Million. Yesterday, we saw a significant decline below the weekly support level against the US Dollar. Also, the Ripple had lost over $ 30 Billion of market cap in the past three months. In the last 1 Week, the price has moved by $ -0.1 (-16.74%) with a total volume of over $ 314.59 Million. The highest price, $ 0.7031, was on Wednesday, 21 March 2018 at 17:00 (6 days ago). The lowest price, $ 0.5579, was on Tuesday, 27 March 2018 at 07:00 (1 day ago). Will the XRPUSD pair manage to surpass US$ 0.60 level in coming day?
28-29 March Ripple Technical Prediction
According to the candlestick charts, again, the three black crows bearish reversal pattern has emerged in the 1M timeframe. The pattern notifies that during an uptrend, three long black candles occur with consecutively lower closes. This pattern suggests that the market has been at a high price for too long, and investors are beginning to compensate for it.
Moreover, according to Fibonacci retracement charts, the XRPUSD pair is well consolidating below the 23.6% Fibo retracement zone. Also, the pair traded above the 23.6% Fibo retracement zone for a short period. On the upside, there is a crucial connecting bearish trend line forming with resistance at $0.5950 on the hourly chart of the XRPUSD pair.
It is more likely that a push below the daily support level, i.e., $0.55 could ignite further losses and the price may even test the $0.5000 mark.
The relative strength index(14) value is below 50 in daily timeframe signals Sell.
The MACD(12,26) value is -0.023 gives Selling signal in daily charts.
Moreover, according to ATR(14), the XRPUSD pair is Less volatile.
The Ripple has significant daily support near US$ 0.55 level and resistance at US$ 0.60 level.
XRPUSD Daily Pivot Points
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