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.

Rajarshi Mitra Independent Analyst

XRP/USD hourly chart

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

XRP/USD

Overview
Today last price	0.2136
Today Daily Change	0.0019
Today Daily Change %	0.90
Today daily open	0.2117

Trends
Daily SMA20	0.194
Daily SMA50	0.1787
Daily SMA100	0.2171
Daily SMA200	0.2287

Levels
Previous Daily High	0.2358
Previous Daily Low	0.2084
Previous Weekly High	0.1999
Previous Weekly Low	0.1784
Previous Monthly High	0.2358
Previous Monthly Low	0.1684
Daily Fibonacci 38.2%	0.2189
Daily Fibonacci 61.8%	0.2253
Daily Pivot Point S1	0.2015
Daily Pivot Point S2	0.1913
Daily Pivot Point S3	0.1741
Daily Pivot Point R1	0.2288
Daily Pivot Point R2	0.2459
Daily Pivot Point R3	0.2561

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.