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Technical analysis

Ripple Price Outlook: XRPUSD Pair Might Test Towards $0.30 Level

Amandeep Sonewane | Dec. 3, 2018
Ripple Price Outlook: XRPUSD Pair Might Test Towards $0.30 Level

December 03, 2018 AtoZ Markets  -  Ripple price is trading in a bearish zone against the US Dollar today. At the press time, Ripple is trading at $0.365 mark with a 24 hours volume of $32.62 Million, in according to coinmarketcap stats.

Ripple Technical Analysis

Looking at the technical charts, after forming a high near the $0.40 level, Ripple price has started a downside move against the USD. The XRPUSD pair traded below the $0.38 and $0.37 support levels to enter a short term bearish zone. Later, the price of the coin even broke the $0.3650 daily support and the 100 hourly SMA. The decline was such that the price of the coin broke the 61.8% Fibonacci retracement level of the last wave from the $0.33 lows to $0.40 highs.

Moreover, there was a break below a major connecting bullish trend line with support at $0.36 on the hourly chart of the XRPUSD pair. The pair is currently trading with a bearish momentum below $0.36 and the 100 hourly SMA. Most importantly, an immediate support is near $0.34 and the 76.4% Fibonacci retracement level of the last wave from the $0.33 lows to $0.40 highs. Below $0.34 level, the price of the coin is likely to test the $0.33 weekly support zone. Finally, the main support is near the last swing low at $0.33.

To sum up, Ripple price is facing a solid resistance near the $0.36 level and the 100 hourly SMA. Therefore, to move into a positive zone, a close above $0.3650 and $0.3700 is required. On the downside, if the price of the coin failed to remain supported above $0.33 level then a bearish rally towards $0.30 might be experienced in near term.

  • RSI(14) is valued below 50 which signals "Sell" action in daily time-frame.
  • William%R – "Oversold" signal on the daily time-frame.
  • MACD(12,26) – "Sell" signal in daily charts.
  • ATR(14) – signals that Ripple is highly volatile.

Ripple Pivot Points

Ripple has a daily support near $0.33 and resistance near $0.40 levels.

Think we missed something? Let us know in the comments section below.

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 Markets.com, nor should they be attributed to AtoZMarkets.