Ripple Technical Analysis: XRP/USD consolidates above the $0.275-level

XRP/USD bears have stayed in control for the second straight day.
XRP/USD fell below the pennant formation following Tuesday’s bearish price action.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD bears have strayed in control of the market for two straight days. The price has dropped from $0.2765 to $0.2753 as it keeps trending in the lower half of the 20-day Bollinger Band. The Elliott Oscillator has had nine consecutive, which indicates that the overall market sentiment is bearish.

As per the daily price chart, there are three strong resistance levels at $0.287, $0.2912 (SMA 20) and $0.3024. On the downside, we have three healthy support levels at $0.259, $0.254 (SMA 50) and $0.245.

Key levels

XRP/USD

Overview
Today last price	0.276
Today Daily Change	-0.0005
Today Daily Change %	-0.18
Today daily open	0.2765

Trends
Daily SMA20	0.2928
Daily SMA50	0.2515
Daily SMA100	0.222
Daily SMA200	0.2164

Levels
Previous Daily High	0.2898
Previous Daily Low	0.2708
Previous Weekly High	0.328
Previous Weekly Low	0.2773
Previous Monthly High	0.2608
Previous Monthly Low	0.1729
Daily Fibonacci 38.2%	0.2781
Daily Fibonacci 61.8%	0.2826
Daily Pivot Point S1	0.2683
Daily Pivot Point S2	0.2601
Daily Pivot Point S3	0.2493
Daily Pivot Point R1	0.2873
Daily Pivot Point R2	0.2981
Daily Pivot Point R3	0.3063

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.