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Ripple Price Analysis: XRP/USD slugs along horizontally as it attempts to break past downward trending line.

  • XRP/USD fell from $0.196 to $0.193 this Monday.
  • The MACD indicator shows decreasing bullish momentum.
Ripple Price Analysis: XRP/USD slugs along horizontally as it attempts to break past downward trending line.
Rajarshi MitraRajarshi MitraIndependent Analyst

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bulls re-entered the market in the early hours of Tuesday, following a bearish Monday, wherein it fell from $0.196 to $0.193. So far, the bulls have managed to pick up the price to $0.1931. The price is trending horizontally and is trying to break above the downward trending line. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum, while the Elliott Oscillator has had four consecutive green sessions. The Relative Strength Index (RSI) indicator is hovering around 41.65, next to the oversold zone, hinting that the price can drop a bit more.
 

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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