Ripple Technical Analysis: XRP/USD bears take price below $0.30

Rajarshi Mitra Independent Analyst

XRP/USD Daily Chart

XRP/USD went down from $0.301 to $0.299, breaking the $0.30 support level.
The price was trending in the green cloud of the Ichimoku indicator before a bearish breakout.
The relative strength index (RSI) indicator is trending close to the oversold territory.
On the upside, resistance lies at $0.30, $0.31, and $0.322.
On the downside, the $0.288 support line is hugely critical. The previous session bounced back from this support line to take the price back above $0.30.

XRP/USD 4-Hour Chart

The signal line is diverging up from the MACD line and this indicates more bullish momentum.
The price is trending in a downward channel.
Immediate short-term support lies at $0.2997 which the bulls need to defend.

XRP/USD Hourly Chart

The price is trending above both the SMA 20 and SMA 50 curves.
The SMA 20 curve is about to crossover the SMA 50 curve which is a bullish sign.
There is a slight squeeze in the 20-day Bollinger band which shows decreasing market volatility.
The price found support above the upward trending line.
The price is also trending in the upper-half of the Bollinger band.

Key Levels

XRP/USD

Overview
Today last price	0.2995
Today Daily Change	-0.0025
Today Daily Change %	-0.83
Today daily open	0.302

Trends
Daily SMA20	0.329
Daily SMA50	0.323
Daily SMA100	0.318
Daily SMA200	0.3613

Levels
Previous Daily High	0.3021
Previous Daily Low	0.2852
Previous Weekly High	0.333
Previous Weekly Low	0.2827
Previous Monthly High	0.3276
Previous Monthly Low	0.287
Daily Fibonacci 38.2%	0.2957
Daily Fibonacci 61.8%	0.2917
Daily Pivot Point S1	0.2908
Daily Pivot Point S2	0.2795
Daily Pivot Point S3	0.2739
Daily Pivot Point R1	0.3077
Daily Pivot Point R2	0.3134
Daily Pivot Point R3	0.3246

Author

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.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.