Ripple Price Analysis: XRP sellers eye confirmation of double top on 4H
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Having failed to cross Friday’s high around 0.3700, XRP/USD drops to 0.3045 during early Monday’s trading. In doing so, the quote portrays a bearish “

  • XRP/USD drops below 200-bar EMA after forming double tops around 0.3700.
  • Sellers await confirmation of bearish chart pattern, two-week-old support line adds to the downside filters.
  • XRP/USD drops below 200-bar EMA after forming double tops around 0.3700.
  • XRP/USD drops below 200-bar EMA after forming double tops around 0.3700.
  • Sellers await confirmation of bearish chart pattern, two-week-old support line adds to the downside filters.
  • Sellers await confirmation of bearish chart pattern, two-week-old support line adds to the downside filters.

    Having failed to cross Friday’s high around 0.3700, XRP/USD drops to 0.3045 during early Monday’s trading. In doing so, the quote portrays a bearish “double top” chart pattern on the four-hour (4H) chart.

    chart

    With the downward sloping RSI and bearish MACD, coupled with the failures to clear immediate upside hurdles, XRP/USD is likely to remain pressured.

    However, fresh selling should wait for the clear downside break of horizontal support around 0.2840. Also acting as short-term key support is the rising trend line from December 29, at 0.2520 now.

    Meanwhile, corrective pullback beyond 0.3700 will be considered afresh invitation to XRP/USD bulls targeting the mid-December 2020 low near 0.4375.

    In a case where the XRP/USD buyers manage to cross 0.4375, their run-up to challenge May 2018 high, probed in November 2020 can’t be ruled out.

    To sum up, the XRP/USD prices are witnessing fresh selling pressure but the hopes of a recovery moves to trim late-December 2020 losses haven’t faded yet.

    XRP/USD four-hour chart

    trend: Further weakness expected

    Additional important levels

    Overview
    Today last price 0.3061
    Today Daily Change -0.0090
    Today Daily Change % -2.86%
    Today daily open 0.3151
     
    Trends
    Daily SMA20 0.276
    Daily SMA50 0.4554
    Daily SMA100 0.3573
    Daily SMA200 0.2996
     
    Levels
    Previous Daily High 0.3685
    Previous Daily Low 0.2862
    Previous Weekly High 0.3703
    Previous Weekly Low 0.2152
    Previous Monthly High 0.6817
    Previous Monthly Low 0.1719
    Daily Fibonacci 38.2% 0.3176
    Daily Fibonacci 61.8% 0.337
    Daily Pivot Point S1 0.278
    Daily Pivot Point S2 0.2409
    Daily Pivot Point S3 0.1957
    Daily Pivot Point R1 0.3604
    Daily Pivot Point R2 0.4056
    Daily Pivot Point R3 0.4427

     

    Additional important levels

    Overview
    Today last price 0.3061
    Today Daily Change -0.0090
    Today Daily Change % -2.86%
    Today daily open 0.3151
     
    Trends
    Daily SMA20 0.276
    Daily SMA50 0.4554
    Daily SMA100 0.3573
    Daily SMA200 0.2996
     
    Levels
    Previous Daily High 0.3685
    Previous Daily Low 0.2862
    Previous Weekly High 0.3703
    Previous Weekly Low 0.2152
    Previous Monthly High 0.6817
    Previous Monthly Low 0.1719
    Daily Fibonacci 38.2% 0.3176
    Daily Fibonacci 61.8% 0.337
    Daily Pivot Point S1 0.278
    Daily Pivot Point S2 0.2409
    Daily Pivot Point S3 0.1957
    Daily Pivot Point R1 0.3604
    Daily Pivot Point R2 0.4056
    Daily Pivot Point R3 0.4427

    Additional important levels

    Overview
    Today last price 0.3061
    Today Daily Change -0.0090
    Today Daily Change % -2.86%
    Today daily open 0.3151
     
    Trends
    Daily SMA20 0.276
    Daily SMA50 0.4554
    Daily SMA100 0.3573
    Daily SMA200 0.2996
     
    Levels
    Previous Daily High 0.3685
    Previous Daily Low 0.2862
    Previous Weekly High 0.3703
    Previous Weekly Low 0.2152
    Previous Monthly High 0.6817
    Previous Monthly Low 0.1719
    Daily Fibonacci 38.2% 0.3176
    Daily Fibonacci 61.8% 0.337
    Daily Pivot Point S1 0.278
    Daily Pivot Point S2 0.2409
    Daily Pivot Point S3 0.1957
    Daily Pivot Point R1 0.3604
    Daily Pivot Point R2 0.4056
    Daily Pivot Point R3 0.4427

    Additional important levels

    Overview
    Today last price 0.3061
    Today Daily Change -0.0090
    Today Daily Change % -2.86%
    Today daily open 0.3151
     
    Trends
    Daily SMA20 0.276
    Daily SMA50 0.4554
    Daily SMA100 0.3573
    Daily SMA200 0.2996
     
    Overview
    Today last price 0.3061
    Today Daily Change -0.0090
    Today Daily Change % -2.86%
    Today daily open 0.3151
    Overview Overview Overview Today last price 0.3061 Today Daily Change -0.0090 Today Daily Change % -2.86% Today daily open 0.3151 Today last price 0.3061 Today last price0.30610.3061 Today Daily Change -0.0090 Today Daily Change-0.0090-0.0090 Today Daily Change % -2.86% Today Daily Change %-2.86%-2.86% Today daily open 0.3151 Today daily open0.31510.3151
     
    Trends
    Daily SMA20 0.276
    Daily SMA50 0.4554
    Daily SMA100 0.3573
    Daily SMA200 0.2996
    Trends Trends Trends Daily SMA20 0.276 Daily SMA50 0.4554 Daily SMA100 0.3573 Daily SMA200 0.2996 Daily SMA20 0.276 Daily SMA200.2760.276 Daily SMA50 0.4554 Daily SMA500.45540.4554 Daily SMA100 0.3573 Daily SMA1000.35730.3573 Daily SMA200 0.2996 Daily SMA2000.29960.2996
     
    Levels
    Previous Daily High 0.3685
    Previous Daily Low 0.2862
    Previous Weekly High 0.3703
    Previous Weekly Low 0.2152
    Previous Monthly High 0.6817
    Previous Monthly Low 0.1719
    Daily Fibonacci 38.2% 0.3176
    Daily Fibonacci 61.8% 0.337
    Daily Pivot Point S1 0.278
    Daily Pivot Point S2 0.2409
    Daily Pivot Point S3 0.1957
    Daily Pivot Point R1 0.3604
    Daily Pivot Point R2 0.4056
    Daily Pivot Point R3 0.4427
    Levels
    Previous Daily High 0.3685
    Previous Daily Low 0.2862
    Previous Weekly High 0.3703
    Previous Weekly Low 0.2152
    Previous Monthly High 0.6817
    Previous Monthly Low 0.1719
    Daily Fibonacci 38.2% 0.3176
    Daily Fibonacci 61.8% 0.337
    Daily Pivot Point S1 0.278
    Daily Pivot Point S2 0.2409
    Daily Pivot Point S3 0.1957
    Daily Pivot Point R1 0.3604
    Daily Pivot Point R2 0.4056
    Daily Pivot Point R3 0.4427
    Levels Levels Levels Previous Daily High 0.3685 Previous Daily Low 0.2862 Previous Weekly High 0.3703 Previous Weekly Low 0.2152 Previous Monthly High 0.6817 Previous Monthly Low 0.1719 Daily Fibonacci 38.2% 0.3176 Daily Fibonacci 61.8% 0.337 Daily Pivot Point S1 0.278 Daily Pivot Point S2 0.2409 Daily Pivot Point S3 0.1957 Daily Pivot Point R1 0.3604 Daily Pivot Point R2 0.4056 Daily Pivot Point R3 0.4427 Previous Daily High 0.3685 Previous Daily High0.36850.3685 Previous Daily Low 0.2862 Previous Daily Low0.28620.2862 Previous Weekly High 0.3703 Previous Weekly High0.37030.3703 Previous Weekly Low 0.2152 Previous Weekly Low0.21520.2152 Previous Monthly High 0.6817 Previous Monthly High0.68170.6817 Previous Monthly Low 0.1719 Previous Monthly Low0.17190.1719 Daily Fibonacci 38.2% 0.3176 Daily Fibonacci 38.2%0.31760.3176 Daily Fibonacci 61.8% 0.337 Daily Fibonacci 61.8%0.3370.337 Daily Pivot Point S1 0.278 Daily Pivot Point S10.2780.278 Daily Pivot Point S2 0.2409 Daily Pivot Point S20.24090.2409 Daily Pivot Point S3 0.1957 Daily Pivot Point S30.19570.1957 Daily Pivot Point R1 0.3604 Daily Pivot Point R10.36040.3604 Daily Pivot Point R2 0.4056 Daily Pivot Point R20.40560.4056 Daily Pivot Point R3 0.4427 Daily Pivot Point R30.44270.4427

     

     

    From: FXSTREET