Ripple Price Analysis: XRP/USD teases bears inside short-term triangle

XRP/USD snaps two-day winning streak while battling 10-day SMA.
Bearish MACD, sustained failures to break the triangle keep sellers hopeful.

Anil Panchal FXStreet

XRP/USD drops to 0.6151, down 1.20% intraday, during early Monday’s trading. In doing so, the crypto major fades the previous two days’ recovery moves inside a two-week-old symmetrical triangle.

Additionally, MACD also flashes the bearish signals while the quote re-tests 10-day SMA.

Thus, XRP/USD sellers eyeing the month-start low of 0.5788 become active while the support line of the stated triangle, at 0.5662 now, could challenge the bears afterward.

It should also be noted that a 21-day SMA level of 0.5392 offers an extra downside filter past-0.5662.

Meanwhile, an upside clearance of the triangle’s resistance line, currently around 0.6430, can probe the monthly high close to 0.6815.

In a case where the XRP/USD bulls keep the reins past-0.6815, the all-time peak, marked in late-November near 0.7845, should gain market attention.

XRP/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.615
Today Daily Change	-0.0069
Today Daily Change %	-1.11%
Today daily open	0.6219

Trends
Daily SMA20	0.5355
Daily SMA50	0.365
Daily SMA100	0.3064
Daily SMA200	0.2652

Levels
Previous Daily High	0.6289
Previous Daily Low	0.5797
Previous Weekly High	0.6827
Previous Weekly Low	0.5427
Previous Monthly High	0.7843
Previous Monthly Low	0.228
Daily Fibonacci 38.2%	0.6101
Daily Fibonacci 61.8%	0.5985
Daily Pivot Point S1	0.5914
Daily Pivot Point S2	0.561
Daily Pivot Point S3	0.5422
Daily Pivot Point R1	0.6406
Daily Pivot Point R2	0.6593
Daily Pivot Point R3	0.6898

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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