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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.
Ripple Price Analysis: XRP/USD consolidates below $0.30 as bulls face resistance at SMA 20
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD daily chart

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 price0.2917
Today Daily Change0.0017
Today Daily Change %0.59
Today daily open0.29
 
Trends
Daily SMA200.2951
Daily SMA500.2388
Daily SMA1000.217
Daily SMA2000.216
 
Levels
Previous Daily High0.3062
Previous Daily Low0.2792
Previous Weekly High0.3075
Previous Weekly Low0.2687
Previous Monthly High0.2608
Previous Monthly Low0.1729
Daily Fibonacci 38.2%0.2895
Daily Fibonacci 61.8%0.2959
Daily Pivot Point S10.2774
Daily Pivot Point S20.2648
Daily Pivot Point S30.2505
Daily Pivot Point R10.3044
Daily Pivot Point R20.3188
Daily Pivot Point R30.3314


 

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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