Ripple Technical Analysis: XRP/USD clings on to the lower curve of 20-day Bollinger Band
- XRP/USD has fallen below the $0.30-level.
- William’s %R indicates that the asset is presently undervalued.
XRP/USD daily chart
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XRP/USD bears have stated in control of the market for the second straight day. The price is presently trending in a downward channel formation and hugging along the lower curve of the 20-day Bollinger Band. XRP/USD has currently fallen from $0.2663 and $0.3014 in the early hours of Friday. The Elliott Oscillator has had 11 straight red sessions wherein it dropped from 0.046 to -0.008. William’s %R is still hovering inside the oversold zone, which indicates that the asset is presently undervalued.
The daily price chart shows us that XRP/USD has three strong resistance levels at $0.2876, $0.2882 (SMA 20) and $0.302. On the downside, we have three healthy support levels at $0.2596, $0.2554 (SMA 50) and $0.2448.
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.
