- 12 out of the last 13 sessions on the Elliott Oscillator have been bullish.
- The daily XRP/USD chart has found support at the SMA 50 curve.
XRP/USD is on course of charting a second straight bearish day. So far today, the price has dropped slightly from $0.271 to $0.27. The hourly chart shows us that XRP/USD had initially declined to $0.2698 before the buyers rallied together and pushed it back into the $0.27 zone. Previously, XRP/USD had a particularly bearish Thursday wherein the price of the asset fell from $0.282 to $0.271 after encountering resistance at the upper 20-day Bollinger curve.
XRP/USD daily chart
The daily XRP/USD chart is floating above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves, having found support at the SMA 50. The 20-day Bollinger jaw has narrowed, indicating decreasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows us decreasing market momentum, while 12 out of the last 13 sessions in the Elliott Oscillator have been bullish.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.