XRP Bulls target $0.3900 or face a slide below $0.3800 on Fed fear

XRPUSD 111222 daily chart

Technical indicators

XRP needs to avoid the $0.3870 pivot to retarget the first major resistance level (R1) at $0.3885 and Saturday’s high at $0.38905. A return to $0.3890 indicates a bullish session.

In the case of an extended rally, the bulls may rally at the second major resistance level (R2) at $0.3905. A rebound to $0.39 would put the third major resistance level (R3) at $0.3940.

A fall through the pivot would give the bears a run at the first major support level (S1) at $0.3850. However, barring the extended sell-off, XRP should avoid going below $0.38. The second major support level (S2) at $0.3836 and the third major support level (S3) at $0.3801 should limit the downside.

Leave a Reply

Your email address will not be published. Required fields are marked *