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Ripple

Ripple technical analysis: XRP/USD continues dropping after encountering resistance at $0.302

  • The Elliott Oscillator has had a bearish session following five straight bullish sessions.
  • The four-hour chart has found strong support at the SMA 20 curve.

XRP/USD daily chart

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XRP/USD dropped from $0.302 to $0.294 this Friday and has fallen further to $0.293. The market is floating above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves. The Elliott Oscillator has had a bearish session following five straight bullish sessions.

XRP/USD four-hour chart

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The four-hour XRP/USD price has found strong support on the SMA 20 curve. They will need to overcome resistance at $0.295. The 20-day Bollinger width is trending around 0.0846, indicating normal market volatility. The Moving Average Convergence/Divergence (MACD) shows sustained bearish momentum.

XRP/USD hourly chart

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The hourly XRP/USD is trending in a triangle formation and is floating above the green Ichimoku cloud. The buyers must aim for the $0.295 resistance line to break above the triangle. The Relative Strength Index (RSI) indicator is trending around 51.56, around the neutral zone.

Key Levels

XRP/USD

OVERVIEW
Today last price0.2935
Today Daily Change-0.0011
Today Daily Change %-0.37
Today daily open0.2946
TRENDS
Daily SMA200.2674
Daily SMA500.2651
Daily SMA1000.2835
Daily SMA2000.3293
LEVELS
Previous Daily High0.3024
Previous Daily Low0.285
Previous Weekly High0.3041
Previous Weekly Low0.2718
Previous Monthly High0.327
Previous Monthly Low0.2168
Daily Fibonacci 38.2%0.2916
Daily Fibonacci 61.8%0.2957
Daily Pivot Point S10.2856
Daily Pivot Point S20.2765
Daily Pivot Point S30.2681
Daily Pivot Point R10.303
Daily Pivot Point R20.3114
Daily Pivot Point R30.3205

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