- The RSI indicator is trending around 82 in the overbought zone.
- Both the MACD indicator and Elliott Oscillator shows sustained bullish sentiment.
XRP/USD daily chart
XRP/USD bears seem to have taken control following four straight bullish days. In the early hours of Saturday, XRP/USD is trading for $0.336. The price is currently sitting on top of the upper curve of the 20-day Bollinger Band and the RSI indicator is trending around 82 in the overbought zone. Both these indicators show that the price is currently overpriced and hence more bearish action could be expected. However, the overall market sentiment remains bullish, as seen from the MACD indicator and Elliott Oscillator. Ideally speaking, the bulls will want to gain even momentum to break past the resistance at $0.3436-level to continue its upward movement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.