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Ripple Price Analysis: XRP/USD sits on top of the lower curve of the 20-day Bollinger Band

  • XRP/USD bears remained in control for the second straight day.
  • The Elliott Oscillator has had eight consecutive red sessions.
  • The RSI has dipped into the oversold zone to show that the price is currently undervalued.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD has dropped from $0.1754 to $0.1746 as markets opened this Wednesday. The bears have remained in control for the second straight day as XRP/USD continues to flirt with the downward trending line. 

The Elliott Oscillator has had eight straight red sessions, showing overall bearish dominance. Finally, the RSI has dipped into the oversold zone to indicate that the price is currently undervalued may face bullish action soon.

Support and Resistance 

XRP/USD faces strong resistance at $0.1772 and $0.1826. On the downside, healthy support lies at $0.1742 (lower curve of the 20-day Bollinger Band).

Key levels

XRP/USD

Overview
Today last price0.1742
Today Daily Change-0.0012
Today Daily Change %-0.68
Today daily open0.1754
 
Trends
Daily SMA200.1862
Daily SMA500.1952
Daily SMA1000.1938
Daily SMA2000.2094
 
Levels
Previous Daily High0.1778
Previous Daily Low0.1749
Previous Weekly High0.1905
Previous Weekly Low0.1784
Previous Monthly High0.2147
Previous Monthly Low0.1692
Daily Fibonacci 38.2%0.176
Daily Fibonacci 61.8%0.1767
Daily Pivot Point S10.1743
Daily Pivot Point S20.1732
Daily Pivot Point S30.1714
Daily Pivot Point R10.1772
Daily Pivot Point R20.1789
Daily Pivot Point R30.18


 

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.

More from Rajarshi Mitra
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