A start to the day saw Ripple’s XRP rally to an early morning intraday high $0.59411 before hitting reverse.
Ripple’s XRP broke through the first major at $0.5900 before sliding to an early afternoon intraday low $0.54864.
Steering clear of the first major at $0.5390, Ripple’s XRP recovered to $0.57 levels to limit the downside.
At the time of writing, Ripple’s XRP was down by 0.27% to $0.56856. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57270 before falling to a low $0.56828.
Ripple’s XRP left the major levels untested early on.
For the day ahead
Ripple’s XRP will need to move back through the $0.5709 level to bring the first major at $0.5932 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.59 levels.
Barring an extended crypto rally, the first major and Thursday’s high $0.59411 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $0.62 levels before any pullback. The second major sits at $0.0.6164.
Failure to move back through the $0.5709 would bring the first major at $0.5478 into play.
Barring an extended sell-off, however, Ripple’s XRP should steer clear of the 23.6% FIB of $0.5320. The second major sits at $0.5255.
Looking at the Technical Indicators
First Major Support Level: $0.5478
First Major resistance Level: $0.5932
23.6% FIB Retracement Level: $0.5320
38.2% FIB Retracement Level: $0.4632
62% FIB Retracement Level: $0.3521