Ripple Price Analysis: XRP/USD bulls eke out an advantage following an elongated period of back-and-forth with the bears
- The 20-day Bollinger band in the daily chart shows decreasing price volatility.
- The Elliott Oscillator in the hourly chart had a green session following 12 red sessions.
XRP/USD daily chart
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XRP/USD bulls managed to eke out an advantage for the fourth straight day as the price went up slightly from $0.1929 to $0.1938. The bulls are aiming for the $0.19876 resistance line, following which, they’ll attempt to cross over the upper curve of the 20-day Bollinger Band. The 20-day Bollinger jaw has considerably narrowed down as well, indicating decreasing price volatility. The MACD shows slight bullish momentum, while the Elliott Oscillator has had 13 red sessions out of the last 14.
XRP/USD hourly chart
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The hourly price is trending in a downward channel formation and has found support at the SMA 50. The bulls encountered key intraday resistance levels. at $0.1966, $0.1953 and $0.1948. The RSI is trending around the neutral zone, while the Elliott Oscillator has had a green session following 12 red sessions.
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.
