Ripple Price Analysis: XRP/USD consolidates below $0.30 as bulls face resistance at SMA 20

XRP/USD bulls entered the market following two straight bearish days.
Elliott Oscillator has had three consecutive red sessions, indicating bearish market sentiment.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD went up from $0.2899 to $0.2911 as the bulls entered the market following two consecutive bearish days. The 20-day Bollinger Band has narrowed down considerably, which shows decreasing price volatility. The Elliott Oscillator has had three straight red sessions, indicating that the overall market sentiment is presently bearish.

The bulls face immediate resistance at $0.296 (SMA 20). Following that, there are two more strong resistance levels at $0.30 and $0.31. On the downside, there is one healthy support level at $0.282. The relative strength index (RSI) is hovering horizontally at 55.38 in the neutral zone.

Key levels

XRP/USD

Overview
Today last price	0.2917
Today Daily Change	0.0017
Today Daily Change %	0.59
Today daily open	0.29

Trends
Daily SMA20	0.2951
Daily SMA50	0.2388
Daily SMA100	0.217
Daily SMA200	0.216

Levels
Previous Daily High	0.3062
Previous Daily Low	0.2792
Previous Weekly High	0.3075
Previous Weekly Low	0.2687
Previous Monthly High	0.2608
Previous Monthly Low	0.1729
Daily Fibonacci 38.2%	0.2895
Daily Fibonacci 61.8%	0.2959
Daily Pivot Point S1	0.2774
Daily Pivot Point S2	0.2648
Daily Pivot Point S3	0.2505
Daily Pivot Point R1	0.3044
Daily Pivot Point R2	0.3188
Daily Pivot Point R3	0.3314

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.