Ripple Technical Analysis: XRP/USD bears in control of the market

XRP/USD Daily Chart

  • XRP/USD went down from $0.419 to $0.405 in the early hours of Friday.
  • The nearest support level is at $0.395.
  • The SMA 20 curve is about to crossover with the SMA 50 curve, which is a bullish sign.
  • The relative strength index (RSI) indicator has crept out of the overbought zone.

XRP/USD 4-Hour Chart

  • The 4-hour price was trending upwards in a channel formation before the price took a dip.
  • The market is prime for a bearish breakout from the triangle formation.
  • The Elliot wave oscillator shows six consecutive bearish sessions.
  • The Ichimoku indicator shows that near-term sentiment will be bearish as well.

XRP/USD Hourly Chart

  • The 20-day Bollinger band shows decreasing market volatility.
  • The price is currently trending in the lower half of the Bollinger band.
  • The moving average convergence/divergence shows sustained bearish momentum.
  • The SMA 50 curve has crossed over with the SMA 20 curve, which is a bearish sign.

Key Levels

XRP/USD

Overview
Today last price 0.4012
Today Daily Change -0.0181
Today Daily Change % -4.32
Today daily open 0.4193
 
Trends
Daily SMA20 0.3239
Daily SMA50 0.3272
Daily SMA100 0.3202
Daily SMA200 0.3483
Levels
Previous Daily High 0.4716
Previous Daily Low 0.3942
Previous Weekly High 0.3107
Previous Weekly Low 0.2917
Previous Monthly High 0.3803
Previous Monthly Low 0.2827
Daily Fibonacci 38.2% 0.4238
Daily Fibonacci 61.8% 0.442
Daily Pivot Point S1 0.3852
Daily Pivot Point S2 0.351
Daily Pivot Point S3 0.3078
Daily Pivot Point R1 0.4625
Daily Pivot Point R2 0.5057
Daily Pivot Point R3 0.5398

 

 

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