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XRP/USD struggles to hold above $0.25

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September 20th 2020


September 20th 2020

  • Ripple (XRP/USD) posts modest daily losses on Sunday.
  • Key Fibo resistance at $0.2550 limits Ripple’s upside. 
  • Ripple is up more than 3% on a weekly basis.

Ripple (XRP/USD) rose above $0.2550 on Saturday but closed the day virtually unchanged at $0.2518. In Sunday’s choppy market action, the pair edged lower and was last seen losing 0.85% on a daily basis at $0.2496.

Ripple technical outlook

Ripple’s failure to close the day above $0.2550 (Fibonacci 50% retracement of July-August rally) opens the door for a further downward correction toward $0.2400 (Fibonacci %61.8 retracement) and $0.2360 (100-day SMA). 

On the upside, $0.2700 (Fibonacci 38.2% retracement) is the next target above $0.2550. However, the Relative Strength Index (RSI) indicator on the daily chart stays below 50, suggesting that bullish momentum is struggling to gather strength.

Ripple chart (daily)

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XRP vi.be Editor

XRP vi.be Editor

Editor at XRPvi.be, gathering information and insights about Ripple, XRP and related things from around the internet. Opinions deriving from any content do not represent ours. All content copyrights are with the original creators and holders. By clicking on the ‘source’ link you can visit the originating place of the content.

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