Ripple Price Analysis: XRP/USD drops below $0.20 psychological level encountering resistance at the downward trending line

Elliott Oscillator has had a green session following 12 straight red sessions.
XRP/USD faces two strong resistance levels on the upside at $0.204 and $0.211.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD encountered resistance at the downward trending line and dropped from $0.204 to $0.199, going below the $0.20 psychological level. The 20-day Bollinger jaw is slowly narrowing, which shows that the price volatility is gradually decreasing. The bears will want to aim for the $0.1928 and $0.182 support levels to continue the downward movement.

If bulls do take back control, they will need to conquer resistance at the downward trending line, $0.204, $0.211, and SMA 20.

Key levels

XRP/USD

Overview
Today last price	0.1975
Today Daily Change	-0.0065
Today Daily Change %	-3.19
Today daily open	0.204

Trends
Daily SMA20	0.2098
Daily SMA50	0.1949
Daily SMA100	0.2133
Daily SMA200	0.2233

Levels
Previous Daily High	0.2064
Previous Daily Low	0.1984
Previous Weekly High	0.2268
Previous Weekly Low	0.2074
Previous Monthly High	0.2358
Previous Monthly Low	0.1684
Daily Fibonacci 38.2%	0.2033
Daily Fibonacci 61.8%	0.2014
Daily Pivot Point S1	0.1995
Daily Pivot Point S2	0.1949
Daily Pivot Point S3	0.1915
Daily Pivot Point R1	0.2075
Daily Pivot Point R2	0.2109
Daily Pivot Point R3	0.2155

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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XRP/USD daily chart

Key levels

XRP/USD

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