Ripple Price Analysis: XRP/USD hourly chart trends horizontally as price volatility goes down
- Short-term resistance lies at $0.2143 and $0.2165.
- The MACD indicates that market momentum in the hourly chart is about to experience a bearish reversal.
XRP/USD hourly chart
-637238967738320881.png)
XRP/USD has gone up from $0.2116 to $0.213. The hourly chart has repeatedly been testing resistance at the downward trending line before the latest candle finally managed to peak above. The hourly price had previously dropped after encountering resistance at $0.2356. Following the drop, the price has relatively stabilized itself. Short-term resistance for the bulls lies at $0.2143 and $0.2165. On the downside, short-term support levels are at $0.2116 and $0.2092. The signal line is looking to cross above the MACD line, to reverse bearish momentum, while the Elliott Oscillator had a green session after three consecutive red sessions. The Bollinger Band has narrowed considerably, indicating decreasing price volatility.
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.
