Ripple Price Analysis: XRP/USD bulls try to conquer the $0.1772 resistance level
- XRP/USD buyers have retained control for the second straight day.
- The price is currently trending in a narrow channel between strong resistance and support levels.
XRP/USD daily chart
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XRP/USD bulls have retained control for the second straight day as the price has gone up slightly from $0.1766 to $0.1767. The price is trending in a narrow channel between the $0.1772 resistance and $0.1752 support levels. The price is currently trying to break above $0.1772 resistance line, which has repeatedly thwarted the bulls before.
The Elliott Oscillator has had a green session after eight consecutive red sessions. The RSI indicator is trending along the edge of the oversold zone.
Support and Resistance
XRP/USD bulls face stiff resistance at $0.1772, $0.1825, $0.1848 (SMA 20) and $0.1942 (SMA 50). On the downside, there is good support at $0.1752.
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.
