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Ripple Price Analysis: XRP flirts with the 55 daily EMA once again

  • XRP/USD trades half a percent lower on Tuesday as general crypto sentiment remains weak.
  • The 0.18 psychological level could be in focus once again if the EMA breaks.
Ripple Price Analysis: XRP flirts with the 55 daily EMA once again
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD daily chart

XRP/USD has moved lower on Tuesday and the price is now testing the 55 exponential moving average (EMA) once again. Historically looking at the chart, the 55 EMA has been respected on a few occasions. 

If the daily candle does closer lower on the session then the 0.18 support zone could be retested again. During December the market hit the aforementioned support level and the price moved higher with dramatic effect. 

Between current levels and the 0.18 support zone, the 200 simple moving average could also provide some support so keep an eye there. Lastly, the two back trendlines on the chart could also provide some clarity. If the trendline on the downside does get taken out then it would be another sign that lower levels are on the cards.

Ripple EMA test

Additional levels

XRP/USD

Overview
Today last price0.2043
Today Daily Change-0.0010
Today Daily Change %-0.49
Today daily open0.2053
 
Trends
Daily SMA200.2099
Daily SMA500.1972
Daily SMA1000.2101
Daily SMA2000.2214
 
Levels
Previous Daily High0.208
Previous Daily Low0.2012
Previous Weekly High0.2162
Previous Weekly Low0.178
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.2054
Daily Fibonacci 61.8%0.2038
Daily Pivot Point S10.2016
Daily Pivot Point S20.198
Daily Pivot Point S30.1948
Daily Pivot Point R10.2085
Daily Pivot Point R20.2117
Daily Pivot Point R30.2154

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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