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Ripple Market Update: XRP/USD remains under bearish control as price slips below $0.29

XRP/USD dropped below the $0.30-level and the SMA 20 curve this Wednesday.
Immediate market resistance lies at the SMA 20 curve.

XRP/USD daily chart

XRP/USD bears remained in control as the price went down further to $0.288. This Wednesday’s bearish price action saw the price dip below the $0.30-level and the 20-day Simple Moving Average (SMA 20) curve.

The Elliott Oscillator has had three straight red sessions, showing that current short-term market sentiment is bearish. XRP/USD has two strong resistance levels at $0.297 (SMA 20) and $0.31. On the downside, we have healthy support at $0.283. The 20-day Bollinger jaw has considerably narrowed down, which shows decreasing price volatility.

Key levels

XRP/USD

Overview
Today last price	0.2887
Today Daily Change	-0.0013
Today Daily Change %	-0.45
Today daily open	0.29

Trends
Daily SMA20	0.2951
Daily SMA50	0.2388
Daily SMA100	0.217
Daily SMA200	0.216

Levels
Previous Daily High	0.3062
Previous Daily Low	0.2792
Previous Weekly High	0.3075
Previous Weekly Low	0.2687
Previous Monthly High	0.2608
Previous Monthly Low	0.1729
Daily Fibonacci 38.2%	0.2895
Daily Fibonacci 61.8%	0.2959
Daily Pivot Point S1	0.2774
Daily Pivot Point S2	0.2648
Daily Pivot Point S3	0.2505
Daily Pivot Point R1	0.3044
Daily Pivot Point R2	0.3188
Daily Pivot Point R3	0.3314

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Ripple Market Update: XRP/USD remains under bearish control as price slips below $0.29