Ripple Technical Analysis: XRP/USD struggles to stay above $0.2880
- XRP/USD faces bearish correction following bullish Monday.
- There are two strong resistance levels at $0.2954 (SMA 20) and $0.3103.
XRP/USD daily chart
XRP/USD bears took charge in the early hours of Tuesday as the price fell from $0.2887 to $0.2880. The price is presently trending in the lower half of the 20-day Bollinger band, which has narrowed considerably to show decreasing price volatility. The Elliott Oscillator shows sustained bearish sentiment, while the relative strength index (RSI) is trending firmly in the neutral zone.
XRP/USD daily chart shows two strong resistance levels on the upside at $0.2954 (SMA 20) and $0.3103. On the other hand, the bears face three healthy support levels at $0.2795, $0.2520 (SMA 50) and $0.245.
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.
