- XRP/USD is currently consolidating in a flag formation, waiting for a breakout.
- The Elliott Oscillator has had three straight bullish sessions.
Ripple has found strong support at $0.295, which is holding up the price of XRP/USD. This Monday, the price fell from $0.299 to $0.295, which has since gone up to $0.297 in the early hours of Tuesday. The bulls will need to break past the resistance at $0.299 to get into the $0.30 – zone. The hourly XRP/USD shows us that buyers had initially taken the price up to $0.305 before it dropped to $0.296. Following that, the price has trended around the $0.30 zone, as the buyers and sellers engaged in a back-and-forth, before settling at $0.295.
XRP/USD daily chart
XRP/USD is floating inside the green Ichimoku cloud and has found support at the SMA 20 curve. The price is consolidating in a flag formation and is getting primed for a potential breakout. The Moving Average Convergence/Divergence (MACD) indicator shows sluggish bullish momentum, while the Elliott Oscillator has had three straight green sessions. The Relative Strength Index (RSI) indicator is trending around 59.20.
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