XRP/USD technical analysis: Market crawls along at $0.317 with no significant movements
|XRP/USD daily chart
- XRP/USD opened at $0.317 this Saturday.
- This Friday’s session crept above the long-running downward trending line.
- Short-term resistance lies at $0.321 which the bulls need to breach to maintain upward momentum.
- The moving average convergence/divergence (MACD) shows that the market has very low volatility and momentum.
XRP/USD 4-hour chart
- The 4-hour XRP/USD chart had a bullish breakout from the green cloud of the Ichimoku indicator.
- The market is currently consolidating in a flag formation as it gets ready for a possible breakout.
- The Elliot wave oscillator has shown bullish behavior in the last five sessions.
XRP/USD hourly chart
- The hourly XRP/USD market has been trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200.
- The last two sessions found support at the SMA 20 curve, keeping the market in the upper half of the 20-day Bollinger band.
Key Levels
- Resistance 3: $0.3275
- Resistance 2: $0.3239
- Resistance 1: $0.3206
- Pivot Point: $0.3170
- Support 1: $0.3136
- Support 2: $0.3100
- Support 3: $0.3067
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