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Ripple Price Analysis: XRP/USD consolidates around the $0.208 level

  • The Elliott Oscillator shows four consecutive red sessions, while the MACD shows increasing bearish momentum.
  • XRP/USD jumped up from the lower 20-day Bollinger Band and bounced back up.
Ripple Price Analysis: XRP/USD consolidates around the $0.208 level
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD daily chart

XRP/USD daily chart

XRP/USD dropped from $0.2098 to $0.2084 in the early hours of Tuesday. Earlier this Sunday, the price plummeted from $0.237 to $0.204 before it bounced up from the lower curve of the 20-day Bollinger Band. The MACD indicates increasing bearish momentum, while the Elliott Oscillator has had four consecutive red sessions, dropping from -0.031 to -0.042. The RSI indicator is trending horizontally around 36.95-level, next to the oversold zone.
 

Author

Rajarshi Mitra

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.

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