XRP/USD technical analysis: Market crawls along at $0.317 with no significant movements

XRP/USD daily chart

  • XRP/USD opened at $0.317 this Saturday.
  • This Friday’s session crept above the long-running downward trending line.
  • Short-term resistance lies at $0.321 which the bulls need to breach to maintain upward momentum.
  • The moving average convergence/divergence (MACD) shows that the market has very low volatility and momentum.

XRP/USD 4-hour chart

  • The 4-hour XRP/USD chart had a bullish breakout from the green cloud of the Ichimoku indicator.
  • The market is currently consolidating in a flag formation as it gets ready for a possible breakout.
  • The Elliot wave oscillator has shown bullish behavior in the last five sessions.

XRP/USD hourly chart

  • The hourly XRP/USD market has been trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200.
  • The last two sessions found support at the SMA 20 curve, keeping the market in the upper half of the 20-day Bollinger band.

Key Levels

  • Resistance 3: $0.3275
  • Resistance 2: $0.3239
  • Resistance 1: $0.3206
  • Pivot Point: $0.3170
  • Support 1: $0.3136
  • Support 2: $0.3100
  • Support 3: $0.3067


 

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.