- Ripple (XRP/USD) posts modest daily losses on Sunday.
- Key Fibo resistance at $0.2550 limits Ripple's upside.
- Ripple is up more than 3% on a weekly basis.
Ripple (XRP/USD) rose above $0.2550 on Saturday but closed the day virtually unchanged at $0.2518. In Sunday's choppy market action, the pair edged lower and was last seen losing 0.85% on a daily basis at $0.2496.
Ripple technical outlook
Ripple's failure to close the day above $0.2550 (Fibonacci 50% retracement of July-August rally) opens the door for a further downward correction toward $0.2400 (Fibonacci %61.8 retracement) and $0.2360 (100-day SMA).
On the upside, $0.2700 (Fibonacci 38.2% retracement) is the next target above $0.2550. However, the Relative Strength Index (RSI) indicator on the daily chart stays below 50, suggesting that bullish momentum is struggling to gather strength.
Ripple chart (daily)
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