- Ripple price dives further under $0.27 as the 50% Fibo comes in handy to stop losses at $0.26.
- XRP/USD is likely to settle between $0.26 and $0.27 to give the bulls time to plan an attack on $0.28 and $0.30 resistances.
Spot rate: $0.2657
Relative change: -0.005125
Percentage change: 1.9%
Trend: Strongly Bearish
Volatility: Low
XRP/USD daily chart
%20(32)-637182186402513553.png)
Ripple price is trading below the broken trendline support. However, it is strongly supported by the 61.8% Fib level of the last drop from $0.3463 to a low of $0.1766 at $0.26. In spite of the losses from the yearly highs at $0.3463 posted on February 15, XRP/USD is holding ground above the moving averages. A possible golden cross hints that bullish pressure is still present and could culminate in a push above the resistance at $0.28 and $0.30.
XRP/USD 2-hour chart
%20(31)-637182185763279316.png)
Ripple price extends the bearish leg to $0.26 as bears continue with their rampage across the crypto market. Support at $0.27 suffered a blow as bulls rushed to defend $0.26. For now, a shallow recovery has seen XRP/USD rise to $0.2656. Although, the path of least resistance is still to the downside. Apart from the hurdle at $0.27, buyers will have a hard time moving past the 50 SMA at $0.2748 and the 100 SMA at $0.28.
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