Ripple Price Analysis: XRP/USD consolidates below the $0.2–level

The bulls and bears are currently wrestling for control in the early hours of Wednesday.
The Elliott Oscillator has had three straight red sessions.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD bears regained control after a slightly bullish Tuesday. The price has gone down from $0.1991 to $0.1990 in the early hours of Wednesday. The price has dropped below the flag formation and is consolidating under the $0.2–level.

The Elliott Oscillator has had three straight red sessions, while the RSI is trending horizontally below the overbought zone.

Support and Resistance

XRP/USD has strong resistance levels at $0.202 and $0.206. On the downside, healthy support lies at $0.1938, $0.1926 (SMA 50), $0.1888 and $0.1878 (SMA 20).

Key levels

XRP/USD

Overview
Today last price	0.1991
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.1991

Trends
Daily SMA20	0.1867
Daily SMA50	0.1926
Daily SMA100	0.1963
Daily SMA200	0.209

Levels
Previous Daily High	0.1998
Previous Daily Low	0.1952
Previous Weekly High	0.2118
Previous Weekly Low	0.1739
Previous Monthly High	0.2147
Previous Monthly Low	0.1692
Daily Fibonacci 38.2%	0.198
Daily Fibonacci 61.8%	0.1969
Daily Pivot Point S1	0.1962
Daily Pivot Point S2	0.1934
Daily Pivot Point S3	0.1916
Daily Pivot Point R1	0.2009
Daily Pivot Point R2	0.2026
Daily Pivot Point R3	0.2055

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.

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Ripple Price Analysis: XRP/USD consolidates below the $0.2–level