Ripple Price Analysis: XRP/USD falls after charting bearish cross
- XRP/USD stayed in control for the second straight day.
- The price is presently sitting on top of the green Ichimoku cloud.
- The Elliott Oscillator has had three consecutive green sessions.
XRP/USD daily chart
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XRP/USD bears stayed in control for the second straight day as the price fell from $0.1975 to $0.1966 in the early hours of Saturday. The SMA 50 has crossed over the SMA 20 to form a bearish cross pattern. Both the curves are acting as immediate price resistance. The price is currently sitting on top of the green Ichimoku cloud. The MACD shows decreasing market momentum, while the Elliott Oscillator has had three straight green sessions.
Support and Resistance
XRP/USD bulls will need to overcome resistance at SMA 20, SMA 50, SMA 200, $0.2243 and $0.243. On the downside, healthy support lies at $0.1927.
Key levels
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.
