Home Ripple Price Analysis: Bears eke out a win as XRP/USD forms bearish dragonfly doji
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Ripple Price Analysis: Bears eke out a win as XRP/USD forms bearish dragonfly doji

FX Street
Updated:
  • The lower wick of this Monday’s candle went down till $0.1806 before it found support.
  • The MACD indicates decreasing bullish momentum.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bears managed to eke out a victory after Monday’s candle ended up being bearish dragonfly doji i.e., the open and close positions are virtually similar and the candle has a long lower wick. The asset is currently priced at $0.1893. The lower wick of this Monday’s candle went down till $0.1806. The wick actually managed to break support at the SMA 20 but lacked the momentum required to go below the $0.1806 support line.

The price is currently trending below the upward trending line. The bulls will want to regain momentum and break above the resistance at the upward trending line and the SMA 50 curve. The MACD indicates decreasing bullish momentum, while the Elliott Oscillator has had three consecutive red sessions.

Key levels

 

FX Street

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