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Ripple Price Analysis: XRP/USD bounces of SMA 20 support, aims to break past $0.1776 support level

FX Street
Updated:
  • The 20-day Bollinger jaw has narrowed considerably, indicating decreasing price volatility.
  • Both the MACD and Elliott Oscillator indicate sustained bullish sentiment. 

XRP/USD daily chart

XRP/USD daily chart

XRP/USD has risen from $0.1715 to $0.1722 so far this Tuesday. This followed a heavily bullish Monday wherein XRP/USD rose from $0.1629 to $0.1715 after bouncing off the SMA 20 support level. The 20-day Bollinger Band has narrowed considerably, indicating decreasing price volatility. 

The Elliott Oscillator has had 15 straight green sessions, while the MACD indicates sustained bullish momentum. Finally, the RSI indicator has evened out around the neutral zone.

Key Levels

 

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