Ripple’s XRP Technical Analysis: XRP/USD next support failing to hold could be catastrophic, as chunky sellers pile in

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  • Ripple’s XRP price was trading down heavily on Thursday, over 6% in the latter part of the session.
  • XRP/USD saw a big daily rejection by an upper descending trend line, firm eyes on support around $0.5000 area. 
  • Further south, ascending trend line on the daily, tracking at $0.4800, a failure to hold here could be catastrophic.

 

 

XRP/USD daily chart 

 
 

Spot rate:                  0.5037

Relative change:      -6.43%

High:                         0.5437

Low:                          0.5013

 

Trend:                       Bearish

 

Support 1:                0.5000, big psychological area of support. 

Support 2:                0.4981, daily pivot point support.

Support 3:                0.4800, ascending daily trend line. 

Resistance 1:           0.5525, daily pivot point resistance & upper trend line.

Resistance 2:           0.5667, daily pivot point resistance, 6th November high. 

Resistance 3:           0.5797, daily pivot point resistance, 2nd October high. 

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