Ripple Price Analysis: XRP/USD bears take control as the price sits on top of the SMA 50 curve
- XRP/USD bears took back control after two straight bullish days.
- The MACD shows decreasing bullish momentum.
- The price faces strong resistance at $0.2111, SMA 200 and $0.2246.
XRP/USD daily chart
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XRP/USD bears took charge following two straight bullish days as the price dropped from $0.2042 to $0.2026. The MACD shows decreasing bullish momentum, while the Elliott Oscillator had a green session, following this Thursday’s red session. It looks like the bulls and bears are currently playing a tug-of-war for control, with the latter gaining a slight advantage.
Support and Resistance
XRP/USD has three strong resistance levels on top at $0.2111, SMA 200 and $0.2246. On the downside, the price is currently sitting on top of the SMA 50 curve. If the sellers do manage to conquer that, they will look to aim for SMA 20, $0.1931 and $0.1825.
Key levels
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.
