Ripple Price Analysis: XRP/USD bulls run out of steam near the $0.30-level
|- XRP/USD had earlier gone up from $0.287 to $0.2985 this Tuesday.
- The Elliott Oscillator has had four straight red sessions.
XRP/USD daily chart
XRP/USD bears took over in the early hours of Wednesday, as the price dropped from $0.2985 to $0.298. This followed a bullish Tuesday wherein XRP/USD jumped from $0.287 to $0.2985. The price is hovering above the SMA 20, SMA 50 and SMA 200 curves. The Elliott Oscillator has had four straight red sessions, while the MACD indicates increasing bearish momentum. The RSI indicator is trending horizontally around the 60-mark as the buyers and sellers try to take control of the market. If the bulls regain control, then they should be able to take back XRP/USD back inside the $0.30 zone.
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