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  • XRP/USD fades upside momentum, snaps two-day winning streak.
  • Strong RSI, convergence of 100-bar SMA, three-week-old support line challenge bears.
  • Upward sloping 200-bar SMA adds to the downside filters.
  • Short-term triangle resistance guards recovery moves ahead of monthly top.

XRP/USD sellers attack the $0.5500 threshold during the latest pullback amid early Tuesday. In doing so, the ripple prices step back from a three-week-old ascending triangle’s resistance line.

However, strong RSI conditions join 100-bar SMA and the stated triangle’s support near $0.5300, to challenge the XRP/USD bears.

If at all the XRP/USD prices drop below $0.5300, a 200-bar SMA level of $0.4340 will question the sellers targeting the monthly low of $0.3405.

Meanwhile, recovery moves may again target the stated triangle’s resistance, around $0.6450.

Though, any further upside will have to cross the monthly top surrounding $0.7565 to keep the XRP/USD bulls happy.

Overall, ripple is on the positive side of the momentum but lacks courage off-late.

XRP/USD four-hour chart

Trend: Bullish

 

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