Ripple Price Analysis: Weekly support line probes XRP pullback from 2.5-year high

XRP/USD trims losses from the highest since May 2018, marked on Wednesday.
Bears aren’t off the table as RSI, MACD flashes red signals for price strength.
Key Fibonacci retracements can please the sellers during further downside, bulls may have to refresh the multi-month high.

XRP/USD battles short-term rising trend line while trying not to refresh the intraday low of 0.6002, currently down over 12% near 0.6050, during the early Thursday.

The crypto major surged to the highest since May 10, 2018, before stepping back the previous day. However, an upward sloping trend line from Sunday, currently around 0.5790, probes the bears.

However, RSI pullback from overbought conditions joins the first MACD bearish signals in over a week indicate further downside of the quote.

As a result, XRP/USD sellers await a downside break of 0.5790 for fresh entries while targeting the 61.8% Fibonacci retracement of November 18-24 upside, near 0.4730.

Meanwhile, an immediate descending trend line from Tuesday’s multi-month peak, at 0.7075 now, limits the quote’s short-term upside ahead of challenging the 0.7826 landmark flashed earlier in the week.

XRP/USD four-hour chart

Trend: Further consolidation expected

Additional important levels

Overview
Today last price	0.6143
Today Daily Change	-0.0794
Today Daily Change %	-11.45%
Today daily open	0.6937

Trends
Daily SMA20	0.3282
Daily SMA50	0.2798
Daily SMA100	0.2681
Daily SMA200	0.241

Levels
Previous Daily High	0.7843
Previous Daily Low	0.5761
Previous Weekly High	0.3329
Previous Weekly Low	0.2644
Previous Monthly High	0.2639
Previous Monthly Low	0.2288
Daily Fibonacci 38.2%	0.7048
Daily Fibonacci 61.8%	0.6556
Daily Pivot Point S1	0.5852
Daily Pivot Point S2	0.4766
Daily Pivot Point S3	0.377
Daily Pivot Point R1	0.7933
Daily Pivot Point R2	0.8928
Daily Pivot Point R3	1.0014

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