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- XRP / USD retreated from the intraday high while maintaining the upward break of the one-week downtrend line.
- The round figure of 0.7400 may once again test the bulls, sellers have more bearish filters before the Nov 26 low.
XRP / USD dips to 0.6550 as it moves away from its last high of 0.6767 early Tuesday. In doing so, the cryptocurrency blurs the upside momentum within a bullish chart pattern.
However, the bullish MACD and the sustained break of a downtrend line since Nov 24 keep Ripple buyers hopeful of facing the 0.7400 threshold again.
However, the Nov 24 high near 0.7485 and the previous month’s high around 0.7845 may challenge the XRP / USD bulls afterwards.
Alternatively, the downward break of the channel’s support, currently around 0.6220, will bring the price back to the previous resistance line, now support, near 0.5535 / 40.
Also acting as a bearish filter could be last Tuesday’s low near 0.4580 which holds the key for further Ripple declines towards the area below 0.4000.
Four-hour XRP / USD chart
Trend: bullish
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