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

XRP/USD daily chart

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 price0.1975
Today Daily Change-0.0065
Today Daily Change %-3.19
Today daily open0.204
 
Trends
Daily SMA200.2098
Daily SMA500.1949
Daily SMA1000.2133
Daily SMA2000.2233
 
Levels
Previous Daily High0.2064
Previous Daily Low0.1984
Previous Weekly High0.2268
Previous Weekly Low0.2074
Previous Monthly High0.2358
Previous Monthly Low0.1684
Daily Fibonacci 38.2%0.2033
Daily Fibonacci 61.8%0.2014
Daily Pivot Point S10.1995
Daily Pivot Point S20.1949
Daily Pivot Point S30.1915
Daily Pivot Point R10.2075
Daily Pivot Point R20.2109
Daily Pivot Point R30.2155


 

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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