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Technical analysis

Ripple Price Outlook: XRPUSD Might Face Huge Resistance Near $0.40 Zone

Amandeep Sonewane | Nov. 26, 2018
Ripple Price Outlook: XRPUSD Might Face Huge Resistance Near $0.40 Zone

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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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ, nor should they be attributed to AtoZMarkets.