Ripple technical analysis: XRP/USD on course of having third straight bearish day?
- XRP/USD is currently priced at $0.256 in the early hours of Friday.
- Over the last three days, XRP/USD has gone down from $0.263 to $0.256.
XRP/USD daily chart
The daily price chart shows us that XRP/USD is on the course of having a third straight bearish day. The price has gone down from $0.263 to $0.256 over the last three days. The price has been checked by the downward trending line and is below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows sustained bullish sentiment.
XRP/USD 4-hour chart
-637033387083400014.png)
The 4-hour price chart is trending below the green Ichimoku cloud. It is also trending below the SMA 200, SMA 50 and SMA 20 curves. The price has found support on the $0.254 line and needs to overcome resistance at the $0.258. The Elliott oscillator shows 12 straight bearish sessions.
XRP/USD hourly chart
-637033386672451236.png)
The hourly chart shows that the latest session was bullish enough to break above the resistance provided by the SMA 20 curve. The 20-day Bollinger jaw is constricting, indicating decreasing market volatility. The relative strength index (RSI) indicator is trending around 50.
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.
