Ripple Price Analysis: XRP/USD plummets below the downward trending line and the green Ichimoku cloud
|- XRP/USD bears stayed in control for the second straight day this Wednesday.
- The Elliott Oscillator is back in the red following Tuesday’s green session.
- XRP/USD daily chart has one healthy support level at $0.1816.
XRP/USD daily chart
XRP/USD fell from $0.1889 to $0.1834 as the bears remained in control for the second straight day. In the process, the price has fallen below the downward trending line and the green Ichimoku cloud. The Elliott Oscillator is back in the red following Tuesday’s green session. The signal line was about to converge with the MACD line but has since diverged away from it.
Support and Resistance
XRP/USD has strong resistance at $0.1857, $0.1897, $0.1936 (SMA 20) and $0.1989 (SMA 50). On the downside, there is one healthy support level for the bears to overcome at $0.1816.
Key levels
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