Ripple Technical Analysis: XRP/USD bears have control as bulls try to fight back
|XRP/USD Daily Chart
- XRP/USD went down from $0.390 to $0.384 in the early hours of Saturday.
- The 20-day Bollinger band shows that the market is volatile.
- The MACD (moving average convergence divergence) indicator shows decreasing market volatility.
- The closest support level at the downside lies at $0.365.
- The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The SMA 20 curve is going to crossover with the SMA 50 curve, which is a bullish sign.
XRP/USD 4-Hour Chart
- The 4-hour XRP/USD market is prime for a breakout from a triangle formation.
- The Ichimoku indicator shows that current and future sentiment on the 4-hour market is bearish.
- The relative strength index (RSI) indicator is trending at the neutral zone.
XRP/USD Hourly Chart
- The hourly XRP/USD chart has been trending horizontally for some time before it had a bullish breakout.
- The market forms a triangle formation and is ready for a breakout.
- The Elliot wave oscillator shows sustained bullish sessions. However, it is still trending in the negative.
- The market is trending above the SMA 200 and SMA 20 curves.
- The market is trending below the SMA 50 curve.
- The market found resistance at $0.39 from where it went down.
Key Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.