November 26, 2018 AtoZ Markets - Ripple price is correcting after a huge sell-off since last few days against the US Dollar. At the press time, Ripple is trading at $0.37 mark with a 24 hours volume of $75.5 Million, in accordance with coinmarketcap stats.
Since past week, the price of the coin has dropped by -18.69% with a total volume of over $ 511.77 Million. The highest price of Ripple, $ 0.5056 , was on 19 November 2018 at 18:00 GMT, while the lowest price, $ 0.3234 , was on 25 November 2018 at 12:00 GMT.
Ripple Technical Analysis
As per the chart, Ripple' price showed a downside move from well above the $0.42 level against the USD. The XRPUSD pair tumbled and broke the $0.40 and $0.35 support levels. There was even a close below the $0.35 level and the 100 hourly SMA. The drop was such that the price of the coin traded close to the $0.31 level. Also, a new monthly low was formed at $0.31 before the Ripple's price started an upside correction.
In addition to that, Ripple price recovered above the $0.34 and $0.35 levels. There was also a break above the 50% Fibonacci retracement level of the recent decline from the $0.41 highs to $0.31 lows. However, the upside momentum was capped by the $0.39 resistance.
Moreover, there is a major bearish trend line in place with resistance at $0.37 on the hourly chart of the XRPUSD. The pair also struggled to settle above the 61.8% Fibonacci retracement level of the recent decline to $0.3126 lows. It seems like the Ripple's price must break the $0.40 resistance levels to move back in a positive zone.
In conclusion, Ripple's price is currently under pressure below the $0.40 resistance. On the downside, the main supports are $0.34 and $0.30.
- RSI(14) is valued above 50 which signals "Buy" action in daily time-frame.
- William%R – "Oversold" signal on the daily time-frame.
- MACD(12,26) – "Buy" signal in daily charts.
- ATR(14) – signals that Ripple is highly volatile.
Ripple Pivot Points
Ripple has a daily support near $0.34 and resistance near $0.40 levels.
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