Ripple Price Analysis: XRP/USD bulls aims to drop price below the $0.28 support level
- The MACD indicator has reversed from bullish to bearish.
- The RSI indicator is trending horizontally around 55 near the neutral zone.
XRP/USD daily chart
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XRP/USD bulls ran out of steam at the $0.336 resistance level four days back. Ever since then, the bears have had full control over the market. During this time period, XRP/USD fell from $0.336 to $0.285. The bears will want to broke below the $0.285 psychological level to continue its downward momentum. The Elliott Oscillator has had three consecutive red sessions, while the MACD indicator shows that the market momentum has reversed from bullish to bearish. The RSI indicator is trending horizontally around 55 in the neutral zone after dropping from the overbought territory.
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.
