Home Ripple Price Analysis: XRP/USD drops back down to $0.27 following substantial bearish correction
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Ripple Price Analysis: XRP/USD drops back down to $0.27 following substantial bearish correction

FX Street
Published date:
  • The MACD indicator shows a reversal of bullish momentum.
  • The SMA 20 is about to cross over the SMA 200, which is a bullish sign,

XRP/USD daily chart

XRP/USD daily chart

XRP/USD dropped from $0.282 to $0.274 this Monday and has fallen further to $0.27. XRP/USD previously tried to break above the $0.283 resistance line, but it charted a double-top pattern and fell down. The SMA 20 curve is about to cross over the SMA 200, so the upcoming market sentiment could be bullish. 

The MACD line is looking to cross over the signal line, the Elliott Oscillator has had two straight red sessions, and the RSI has dropped below the overbought zone to 62. All these indicators show that the bears currently have complete control of the market.
 

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