Ripple Price Analysis: How could XRP take out this massive level?

Ripple trades over 5% lower as the price retreats after the big rally on Wednesday.
There is a huge level the price pulled back from to move lower.

XRP/USD daily chart

Ripple had a great Wednesday and pushed higher toward the 200 simple moving average (SMA). On Thursday, it all looked so promising as the price started the session higher, but since the price has come crashing down and with further inspection, it's not hard to see why.

The resistance level marked by the orange rectangle below shows that the 50% Fibonacci, 200 SMA and resistance zone all matched up to form the perfect blended resistance area. The bulls just could not take out the level despite a valiant effort to do so.

Now it seems the price could be heading back to the psychological 0.20 zone, which was a big resistance point earlier in the month. Around that level, the 55 exponential moving average also lies in wait and we could see a pullback there before the upward trend continues.

Additional levels

XRP/USD

Overview
Today last price	0.2145
Today Daily Change	-0.0120
Today Daily Change %	-5.30
Today daily open	0.2265

Trends
Daily SMA20	0.1928
Daily SMA50	0.1786
Daily SMA100	0.2173
Daily SMA200	0.229

Levels
Previous Daily High	0.2309
Previous Daily Low	0.2128
Previous Weekly High	0.1999
Previous Weekly Low	0.1784
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.224
Daily Fibonacci 61.8%	0.2197
Daily Pivot Point S1	0.2159
Daily Pivot Point S2	0.2054
Daily Pivot Point S3	0.1979
Daily Pivot Point R1	0.234
Daily Pivot Point R2	0.2414
Daily Pivot Point R3	0.252

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