Ripple technical analysis: XRP/USD bears have already negated Wednesday’s gains


  • XRP/USD is one course of having a bearish day after six straight bullish days.
  • The price is currently consolidating itself in a flag formation.

XRP/USD daily chart

fxsoriginal

XRP/USD has gone down $0.282 to $0.277 so far today, completely negating the gains it made this Wednesday. The price is currently consolidating in a flag pattern and is getting primed for a breakout. The price is trending above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves. The Moving Average Convergence/Divergence (MACD) indicator has had five straight bullish sessions.

XRP/USD four-hour chart

fxsoriginal

The four-hour market has dropped below the support provided by the upward trending line. The price is floating above the green Ichimoku cloud, SMA 200, SMA 50 and SMA 20. The Relative Strength Index (RSI) indicator was flirting with the overbought zone but has since dipped down.

XRP/USD hourly chart

fxsoriginal

The hourly XRP/USD price is looking to dip below the 20-day Bollinger band, showing us that the bears currently have full control. The two latest sessions have taken the price below the SMA 20 and SMA 50 curves, while the Elliott Oscillator has had six straight bearish sessions. The Bollinger Band Width has gone down to 0.0283, indicating decreasing market volatility

Key Levels

XRP/USD

Overview
Today last price 0.2774
Today Daily Change -0.0044
Today Daily Change % -1.56
Today daily open 0.2818
 
Trends
Daily SMA20 0.2592
Daily SMA50 0.263
Daily SMA100 0.2925
Daily SMA200 0.3304
 
Levels
Previous Daily High 0.2879
Previous Daily Low 0.2742
Previous Weekly High 0.2623
Previous Weekly Low 0.2348
Previous Monthly High 0.327
Previous Monthly Low 0.2168
Daily Fibonacci 38.2% 0.2827
Daily Fibonacci 61.8% 0.2794
Daily Pivot Point S1 0.2747
Daily Pivot Point S2 0.2676
Daily Pivot Point S3 0.261
Daily Pivot Point R1 0.2884
Daily Pivot Point R2 0.295
Daily Pivot Point R3 0.3021

 


 

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