Ripple price analysis: XRP/USD re-enters the $0.30-zone
|- XRP/USD went up from $0.286 to $0.306 in the early hours of Wednesday.
- The Relative Strength Index (RSI) indicator has spiked into the overbought zone.
XRP/USD re-entered the $0.30 zone after having two heavily bullish days in a row. Over the last two days, Ripple has gone up from $0.261 to $0.306, charting a 17.24% growth in price. The four-hour chart shows us that XRP/USD went up from $0.281 to $0.306 within four hours.
XRP/USD daily chart
The previous two sessions have taken XRP/USD above the 20-day Bollinger Band, indicating that the price is overpriced. This shows that the bears will be stepping in any time soon to correct the price. The price is also trending above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The Moving Average Convergence/Divergence (MACD) indicator shows increasing bullish momentum. The Relative Strength Index (RSI) indicator has spiked into the overbought zone.
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