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Ripple Price Analysis: Bears aim to take the price below $0.23

FX Street
Updated:
  • XRP/USD has found support on the SMA 20 curve.
  • The MACD indicates increasing bearish momentum.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bears took control of the market for the second day in a row. This Wednesday, the price went down from $0.239 to $0.235 and it has fallen further to $0.233 in the early hours of Thursday. The SMA 20 curve acts as immediate market support and the 20-day Bollinger Band is constricting, which shows decreasing price volatility.

The MACD indicates increasing bearish momentum, while the Elliott Oscillator has had three straight green sessions. The RSI indicator is trending horizontally around 55.56, which means that the market is going through a price consolidation period.
 

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