Ripple Price Analysis: XRP/USD bears take control following five consecutive bullish days
- XRP/USD went up from $0.1785 to $0.1797 this Friday.
- The Elliott Oscillator has had 19 consecutive green sessions.
XRP/USD daily chart
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XRP/USD bears took control in the early hours of Saturday as the price dropped from $0.1797 to $0.1794. Currently, the upward trending line is holding steady and preventing the price from going down any more. On the upside, the bulls can regain control and push the price above the $0.1875 resistance level, however, they will then encounter strong resistance at the upward curve of the 20-day Bollinger Band.
The overall market sentiment remains bullish. This can be seen in both the MACD and the Elliott Oscillator. The former shows sustained bullish momentum, while the latter has had 19 straight green sessions.
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.
