Ripple Price Analysis: XRP/USD bears take over to dip back into the green Ichimoku cloud

XRP/USD bears took over following a heavily bullish Wednesday.
The MACD shows decreasing bearish momentum.
The Elliott Oscillator has had eight straight red sessions.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD dropped from $0.1979 to $0.1978 in the early hours of Thursday, following a heavily bullish Wednesday. In the process, the price has dipped back inside the green Ichimoku cloud. The MACD shows decreasing bearish momentum, while the Elliott Oscillator has had eight straight red sessions.

The price faces strong resistance levels on the upside at $0.203 and $0.206. On the downside, healthy support levels lie at $0.1934 and $0.188.

Key levels

XRP/USD

Overview
Today last price	0.1977
Today Daily Change	-0.0002
Today Daily Change %	-0.10
Today daily open	0.1979

Trends
Daily SMA20	0.2006
Daily SMA50	0.2001
Daily SMA100	0.201
Daily SMA200	0.217

Levels
Previous Daily High	0.2007
Previous Daily Low	0.1937
Previous Weekly High	0.208
Previous Weekly Low	0.1891
Previous Monthly High	0.2358
Previous Monthly Low	0.1684
Daily Fibonacci 38.2%	0.198
Daily Fibonacci 61.8%	0.1964
Daily Pivot Point S1	0.1942
Daily Pivot Point S2	0.1905
Daily Pivot Point S3	0.1872
Daily Pivot Point R1	0.2012
Daily Pivot Point R2	0.2044
Daily Pivot Point R3	0.2081

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.