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Ripple Price Analysis: XRP/USD runs out of steam as it nears the red Ichimoku cloud

  • XRP/USD had a bearish start to the day following three straight bullish sessions.
  • The Elliott Oscillator has had a green session following 12 consecutive red sessions.
Ripple Price Analysis: XRP/USD runs out of steam as it nears the red Ichimoku cloud
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD daily chart

XRP/USD daily chart

XRP/USD fell from $0.2040 to $0.2034 as it neared the red Ichimoku cloud. The MACD indicates sustained bearish momentum, while the Elliott Oscillator has had a green session following 12 consecutive red sessions. 

XRP/USD bulls will want to take the price up to $0.212 to conquer the strong resistance level and cross above the SMA 20. Beyond that, another strong resistance lies at $0.218. On the downside, healthy support levels lie at $0.196 and $0.182.
 

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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