Home Ripple Price Analysis: XRP/USD bulls consolidate price above the $0.30-level
Crypto News

Ripple Price Analysis: XRP/USD bulls consolidate price above the $0.30-level

FX Street
Updated:
  • XRP/USD bulls take over control, following bearish Tuesday.
  • The price continues to consolidate above the $0.30 level.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bulls stepped back into the market following a bearish Tuesday as the price crept above the upward trending line. The price has gone up slightly from $0.3027 to $0.3041. The 20-day Bollinger Band has narrowed, showing decreasing price volatility. 

The Elliott Oscillator has had two straight red sessions, showing that the market sentiment is presently bearish. The relative strength index (RSI) indicator is trending alongside the overbought zone. The price chart shows two strong resistance levels at $0.3059 and $0.3175. On the downside, we have two healthy support levels at $0.297 (SMA 20) and $0.282.

Key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024