Ken Chigbo
Independent Analyst
- XRP on the back foot in the latter part of Tuesday, down by 1.25%.
- Price action to the upside is limited by a long-running descending trend line.
Ripple’s XRP was seen nursing losses of 1.25% in the latter stages of trading on Tuesday. The price remains stuck within a mundane trading range, which has been the case for the past five sessions now, following the deep fall on 10th January.
XRP/USD price action is restricted from upside by a descending trend line, which has been in play since 6th November. Bulls having been rejected on each attempt to break above; throughout November, in December and most recently on 10th October.
Looking via confluence detector, there are some chunky barriers of resistance in the way of upside. Firstly, $0.3472, weekly 38.2% Fibonacci and then further north at $0.3507, monthly 38.5% Fibonacci, likely to cause obstruction for the bulls.
XRP/USD daily confluence detector
XRP/USD daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin holds $87,000 as markets brace for volatility ahead of April 2 tariff announcements
Bitcoin (BTC) holds above $87,000 on Wednesday after its mild recovery so far this week. A K33 Research report explains how the markets are relatively calm and shaping up for volatility as the market absorbs the tariff announcements.
Shiba Inu rallies as trading volume rises 228% amid increase in bullish bets
Shiba Inu price extends its gains by 8% and trades at $0.000015 at the time of writing on Wednesday, rallying over 15% so far this week. On-chain data shows that SHIB’s trading volume rose 228% in the last 30 days, bolstering the platform’s bullish outlook.
BTC, ETH, and XRP could face volatility as Trump’s “Liberation Day” nears
Bitcoin (BTC) price hovers around $87,000 on Wednesday after recovering 4% in the last three days. Ethereum (ETH) and Ripple (XRP) find support around their key level, suggesting a recovery on the cards.
BlackRock’s BUIDL fund launch on Solana platform while Fidelity files for spot Solana ETF
Solana price hovers around $142 on Wednesday after recovering by 7% so far this week. BlackRock’s BUIDL fund launches on the Solana platform. Fidelity files for a spot Solana ETF with Cboe.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.