Ripple Technical Analysis: Bullish recovery starts after two bearish days

XRP/USD bulls look to take back the $0.29 resistance level.
RSI trends along horizontally at 62.50.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD bulls stage a comeback following two bearish days, taking the price up from $0.2822 to $0.2850. The buyers aim for the $0.29 resistance level as the price keeps trending in a downward channel formation. The relative strength index (RSI) keeps trending horizontally around 62.50, right next to the overbought zone.

XRP/USD has two strong resistance levels at $0.29 and $0.311. On the downside, we have four healthy support levels at $0.273 (SMA 20), $0.243, $0.224 (SMA 50) and $0.206.

Key levels

XRP/USD

Overview
Today last price	0.2855
Today Daily Change	0.0032
Today Daily Change %	1.13
Today daily open	0.2823

Trends
Daily SMA20	0.2686
Daily SMA50	0.2216
Daily SMA100	0.2106
Daily SMA200	0.2137

Levels
Previous Daily High	0.2873
Previous Daily Low	0.272
Previous Weekly High	0.3259
Previous Weekly Low	0.2485
Previous Monthly High	0.2608
Previous Monthly Low	0.1729
Daily Fibonacci 38.2%	0.2779
Daily Fibonacci 61.8%	0.2815
Daily Pivot Point S1	0.2737
Daily Pivot Point S2	0.2652
Daily Pivot Point S3	0.2584
Daily Pivot Point R1	0.289
Daily Pivot Point R2	0.2958
Daily Pivot Point R3	0.3043

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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