Why XRP traders must be wary of these levels before placing their bets

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

XRP saw a solid devaluation like most of its peer altcoins following the market-wide liquidations. XRP steadily declined while flipping the three-month trendline resistance to support (yellow, dashed). 

Meanwhile, the buyers struggled to break out of the chains of the 38.2% Fibonacci level in the daily timeframe. But the close above the 20 EMA has reflected a recent uptick in buying pressure.

A close above or below the $0.33 zone would be vital to make the most out of XRP’s future movements. At press time, XRP traded at $0.3381.

Source: TradingView, XRP/USDT

The price action marked a strong rejection at the 38.2% Fibonacci resistance. Should the current candlestick close below the $0.34-level, XRP would witness a bearish hammer on the chart.

A below the 20 EMA could help the sellers pull XRP to retest the $0.3096-zone in the coming sessions. The alt could continue its sluggish phase near this area.

On the flip side, an immediate recovery would help the buyers test the 50% level in the $0.36-region. The buyers must wait for a compelling close above the immediate resistance before placing calls.

Source: TradingView, XRP/USDT

The Relative Strength Index (RSI) displayed a rather neutral bias at the time of writing. A sustained position below the midline would help the sellers take charge of the near-term trend.

Furthermore, the Accumulation/Distribution (A/D) line saw a bearish divergence with price over the last few days. This reading entailed the possibility of a distribution phase. 

Source: TradingView, XRP/USDT

On a rather shorter timeframe, XRP saw an up-channel oscillation that saw a recovery