Looking at the Technical Indicators
Major Support Level: $237.21
Pivot Level: $239.39
Major Resistance Level: $241.36
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP rose by 0.86% on Saturday. Partially reversing a 1.69% fall from Friday, Ripple’s XRP ended the day at $0.20124.
A bullish start to the day saw Ripple’s XRP break through R1 @ $0.2041 to strike an intraday high $0.20504.
Bearish through the afternoon, Ripple’s XRP fell to a late intraday low $0.19811.
While falling into the red, Ripple’s XRP avoided S1 @ $0.1936. Finding late support, Ripple’s XRP moved back through to $0.20 levels and into the green.
For the day ahead
Support, Resistance, MACD, and EMA – Hourly Candlesticks
Looking at the MACD, we’ve seen a narrowing of the bullish histograms early on, supportive of a pullback in the day ahead.
The spreads between the 50-day EMA and 100 and 200 EMAs have also narrowed marginally also supporting a reversal.
Avoiding a fall through the day’s pivot level at $0.2015 will be key to support the upward momentum.
Barring an extended crypto rally, R1 @ 0.2048 and Saturday’s high $0.20504 would likely cap any upside.
A fall through the day’s pivot level at $0.2015 would bring the S1 @ $0.1979 into play before any recovery.
Barring an extended sell-off, Ripple’s XRP should avoid sub-$0.19 levels. S2 @ 0.1945 should limit any downside.
At the time of writing, Ripple’s XRP was up by 0.11% to $0.20147. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.20122 to a high $0.20340. Ripple’s XRP left the major support and resistance levels untested early on.