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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.
Ripple Market Update: XRP/USD remains under bearish control as price slips below $0.29
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD daily chart

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 price0.2887
Today Daily Change-0.0013
Today Daily Change %-0.45
Today daily open0.29
 
Trends
Daily SMA200.2951
Daily SMA500.2388
Daily SMA1000.217
Daily SMA2000.216
 
Levels
Previous Daily High0.3062
Previous Daily Low0.2792
Previous Weekly High0.3075
Previous Weekly Low0.2687
Previous Monthly High0.2608
Previous Monthly Low0.1729
Daily Fibonacci 38.2%0.2895
Daily Fibonacci 61.8%0.2959
Daily Pivot Point S10.2774
Daily Pivot Point S20.2648
Daily Pivot Point S30.2505
Daily Pivot Point R10.3044
Daily Pivot Point R20.3188
Daily Pivot Point R30.3314

Author

Rajarshi Mitra

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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