- XRP/USD market suffers from the sudden sell-off which has affected the entire crypto market.
- Bulls need to break past resistance at $0.295 to have any chance of reversing the trend.
The XRP/USD market has taken a severe hit from the recent sell-off which has affected the entire crypto market. Technical analysis shows that bulls need to push XRP/USD above $0.295 to avoid reverse the trend.
XRP/USD daily chart
- The XRP/USD daily chart indicates how the bears have dominated the bulls in the last week.
- The downward trending line has provided stiff resistance to the market.
XRP/USD hourly chart
- The hourly chart gives you a more explicit indication of how bearish the market has been over the last hour.
- The relative strength index (RSI) graph has also ventured into the oversold territory.
XRP/USD 4-hour chart
- Bulls will need to break past resistance at $0.295.
- The recent bearish movement has the taken the price below the lower curve of the 20-day Bollinger band.
Key Levels
- Resistance 3: $0.3091
- Resistance 2: $0.3059
- Resistance 1: $0.3026
- Pivot Point: $0.2995
- Support 1: $0.2961
- Support 2: $0.2930
- Support 3: $0.2897
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