Rajarshi Mitra
Independent Analyst
- XRP/USD fell from $0.269 to $0.266 in the early hours of Wednesday.
- Hourly XRP/USD chart shows bulls and bears engaged in a tug of war.
XRP/USD daily chart
-637025613490175440.png)
XRP/USD on course of having two straight bearish days and four bearish days out of the last five. The price is trending horizontally right now and is below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The price has fallen from $0.269 to $0.266 in the early hours of Wednesday. XRP/USD has been trending between $0.277 to $0.266 for the last eight days. The moving average convergence/divergence (MACD) indicator shows seven straight bullish sessions.
XRP/USD 4-hour chart
-637025613156729558.png)
The latest prices session of the 4-hour chart has fallen down and found support on the lower curve of the 20-day Bollinger band and the $0.265 support level. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 curve was going to cross over with the SMA 50 curve before it diverged away. The Elliott oscillator shows eight bearish sessions out of the last nine.
XRP/USD hourly chart
-637025612691560679.png)
The hourly chart shows a tug-of-war between buyers and sellers, with the bulls putting the price up and the bears cutting the price down. The hourly price has found resistance on the Ichimoku clouds. The relative strength index (RSI) indicator is trending around 39 after finding resistance at 54.65.
Key Levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?