- XRP/USD returns to the red after rejection again above 0.2450.
- Daily RSI has edged lower while within the bearish region.
- 100-DMA to test bears’ commitment after Saturday’s Doji candlestick.
Having faltered once again above 0.2450 this Sunday, Ripple (XRP/USD) snaps a three-day recovery momentum, as the coin battles 0.2400 amid the downbeat mood across the crypto board.
The XRP sellers returned after the price formed a Doji candlestick on the daily chart on Saturday, suggesting that the recovery from two-month lows of 0.2197 seems to have lost traction.
Backing the case for additional losses, the spot has failed to secure a sustained break above the horizontal 21-day Simple Moving Average (DMA), now at 0.2416 while the 14-day Relative Strength Index (RSI) points south within the bearish territory.
Therefore, the bears need a daily closing below the 100-DMA support at 0.2392 to negate the bullish reversal.
The next downside target sits at the two-month lows just below the 0.2200 level. Further south, the horizontal 200-DMA at 0.2148 will be the last straw for the XRP bulls.
To the upside, the buyers could target the September 19 high at 0.2585 before taking on the downward-sloping 50-DMA barrier at 0.2648.
XRP/USD: Daily chart
XRP/USD: Additional levels to consider
Get the 5 most predictable currency pairs
Leave a Reply