Ripple Price Analysis: XRP/USD shoots above the 20-day Bollinger Band as bulls take control

XRP/USD bulls remained in control for two days.
William’s %R is trending inside the overbought zone so a short-term bearish correction is round the corner.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD went up from $0.2112 to $0.2115 as the bulls remained in control of the market for the second straight day. Following this Monday’s bullish action, the price shot above the 20-day Bollinger Band. This – along with the fact that William’s %R is trending in the overbought zone – shows that the price is overvalued and will soon face bearish correction. The MACD shows increasing bullish momentum.

Support and Resistance

The bulls face strong resistance at SMA 200, $0.219 and $0.2265. On the downside, the price is supported by $0.204, SMA 50, SMA 20 and $0.1945.

Key levels

XRP/USD

Overview
Today last price	0.212
Today Daily Change	0.0008
Today Daily Change %	0.38
Today daily open	0.2112

Trends
Daily SMA20	0.2004
Daily SMA50	0.2012
Daily SMA100	0.1973
Daily SMA200	0.2152

Levels
Previous Daily High	0.2129
Previous Daily Low	0.2013
Previous Weekly High	0.2031
Previous Weekly Low	0.1855
Previous Monthly High	0.2268
Previous Monthly Low	0.178
Daily Fibonacci 38.2%	0.2085
Daily Fibonacci 61.8%	0.2058
Daily Pivot Point S1	0.204
Daily Pivot Point S2	0.1969
Daily Pivot Point S3	0.1924
Daily Pivot Point R1	0.2156
Daily Pivot Point R2	0.2201
Daily Pivot Point R3	0.2272

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.