Ripple's XRP Technical Analysis: XRP/USD heading back for $0.3000

Ripple's XRP price on Thursday was hammered, trading down a chunky 6.45% in the second half of the day.
XRP/USD bears took full control which had initially taken place in the back end of Wednesday's session.
Given the current downside momentum, eyes are once again locked on the big $0.3000.

Ken Chigbo Independent Analyst

Spot rate: 0.3301

Relative change: -6.45%

High: 0.3541

Low: 0.3227

XRP/USD

Overview
Today last price	0.33
Today Daily Change	-0.0237
Today Daily Change %	-6.70
Today daily open	0.3537

Trends
Daily SMA20	0.3289
Daily SMA50	0.322
Daily SMA100	0.3226
Daily SMA200	0.3783

Levels
Previous Daily High	0.3618
Previous Daily Low	0.3476
Previous Weekly High	0.3803
Previous Weekly Low	0.3097
Previous Monthly High	0.3276
Previous Monthly Low	0.287
Daily Fibonacci 38.2%	0.3564
Daily Fibonacci 61.8%	0.353
Daily Pivot Point S1	0.347
Daily Pivot Point S2	0.3402
Daily Pivot Point S3	0.3328
Daily Pivot Point R1	0.3611
Daily Pivot Point R2	0.3685
Daily Pivot Point R3	0.3753

XRP/USD 60-minute chart

Bears are testing a huge near-term demand area of support tracking around $0.3300. A breach could see a retest of $0.3000.

XRP/USD daily chart

Bulls lost full control after losing ground and momentum as they tried to reclaim $0.4000.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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