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

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