Home Ripple Price Analysis: XRP/USD bulls take control for the seventh straight day, sits on top of 20-day Bollinger band
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Ripple Price Analysis: XRP/USD bulls take control for the seventh straight day, sits on top of 20-day Bollinger band

FX Street
Updated:
  • XRP/USD trends in an upward channel formation and aims to break past $0.30-level.
  • The RSI indicator is hovering inside the overbought zone.

XRP/USD daily chart

XRP/USD daily chart

The bulls have taken control of the XRP/USD market for the seventh straight day. During this period, XRP/USD rose from $0.2395 to $0.2859. That’s a 22.72% increase in valuation. XRP/USD is currently sitting on top of the 20-day Bollinger Band, indicating that the asset is presently overpriced and may face bearish correction soon. The Bollinger jaw has widened, indicating increasing market volatility. Both the MACD and Elliott Oscillator indicate rising bullish sentiment. The RSI indicator is hovering inside the overbought zone, which again shows that the market is currently overpriced.
 

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