Ripple Price Analysis: XRP/USD continues its fall as price looks to break below SMA 50

XRP/USD has dropped by >6% over the last nine days.
The MACD shows decreasing bullish market momentum.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

Ripple bears stayed in control for the third straight day. XRP/USD is priced at $0.194 and looks to drop below the SMA 50. The price has fallen below the triangle formation and is hugging along the downward trending line. XRP/USD has lost more than 6% of its valuation over the last nine days.

The Elliott Oscillator has had five straight red sessions, while the MACD shows decreasing bullish momentum. All these indicators show that the overall market sentiment is presently bearish.

Support and Resistance

XRP/USD has two strong resistance levels at $0.199 and $0.206. On the downside, there three healthy support levels at $0.193 (SMA 50), $0.1891 (SMA 50) and $0.1822.

Key levels

XRP/USD

Overview
Today last price	0.1941
Today Daily Change	-0.0001
Today Daily Change %	-0.05
Today daily open	0.1942

Trends
Daily SMA20	0.1881
Daily SMA50	0.1926
Daily SMA100	0.1963
Daily SMA200	0.209

Levels
Previous Daily High	0.1975
Previous Daily Low	0.1885
Previous Weekly High	0.2118
Previous Weekly Low	0.1739
Previous Monthly High	0.2147
Previous Monthly Low	0.1692
Daily Fibonacci 38.2%	0.1919
Daily Fibonacci 61.8%	0.194
Daily Pivot Point S1	0.1893
Daily Pivot Point S2	0.1844
Daily Pivot Point S3	0.1802
Daily Pivot Point R1	0.1983
Daily Pivot Point R2	0.2024
Daily Pivot Point R3	0.2074

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 continues its fall as price looks to break below SMA 50