Ripple technical analysis: XRP/USD bulls rally and aim to re-enter $0.30-zone
- XRP/USD has gone up by 2.15% so far today.
- The MACD indicator shows increasing bullish momentum.
XRP/USD daily chart
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XRP/USD has gone up from $0.277 to $0.283 so far today, jumping up by 2.15%. This Monday, the price has had a bullish breakout from the flag formation as it went up from $0.256 to $0.277. In the process, XRP/USD went above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves. The Moving Average Convergence/Divergence (MACD) indicator shows increasing bullish momentum. The SMA 20 curve was about to cross-over with the SMA 50 curve, before it diverged away.
XRP/USD four-hour chart
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The four-hour XRP/USD chart has jumped above the green Ichimoku cloud and is currently negotiating with the resistance level at $0.286. The SMA 20 has crossed over the SMA 200 curve, which is a bullish sign. The Elliott Oscillator shows ten straight bullish sessions of increasing intensity.
XRP/USD one-hour chart
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The hourly chart is comfortably trending above the SMA 20, SMA 50 and SMA 200 curves. The second last session peaked above the 20-day Bollinger band, indicating the hourly price is overvalued and may experience a bearish correction. The Relative Strength Index (RSI) indicator is trending within the overbought zone.
Key Levels
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.
