Ripple Price Analysis: XRP/USD bulls rally back to negate the losses of Monday

• XRP/USD dropped from $0.1582 to $0.1477 this Monday.
• The MACD indicator shows increasing bullish momentum.

Key Levels

• Current Price: $0.1588
• High: $0.1622 
• Low: $0.1449
• R3: $0.1830
• R2: $0.1726
• R1: $0.1657
• PP: $0.1553
• S1: $0.1484
• S2: $0.1380
• S3: $0.1311

XRP/USD daily chart

XRP/USD bulls rallied together and picked the price up from $0.1477 to $0.1588. In the process, they managed to negate the losses of Monday wherein the asset fell from $0.1582 to $0.1477. The price is consolidating in a triangle formation and below the SMA 20, SMA 50 and SMA 200 curves. The Elliott Oscillator has had seven straight green sessions, while the MACD indicates increasing bullish momentum. Finally, the RSI indicator has gone up from 34.77 to 39.66 following Tuesday’s bullish price action.