Ripple Price Analysis: XRP/USD consolidates above the $0.16 level following Thursday’s price action

• The signal line is about to cross over the MACD line, indicating an eventual reversal of bearish momentum.
• The Elliott Oscillator has gone up from -0.089 to -0.065 over the last four sessions.

Key Levels

• Open: $0.1650 
• High: $0.1670 
• Low: $0.1607
• Resistance 3: $0.2058
• Resistance 2: $0.1895
• Resistance 1: $0.1773
• PP: $0.1610
• Support 1: $0.1489
• Support 2: $0.1326
• Support 3: $0.1204

XRP/USD daily chart

XRP/USD has gone down slightly from $0.165 to $0.163 in the early hours of Friday as the price struggled to break past the downward trending line. This Thursday, XRP/USD spiked up from $0.148 to $0.165. The RSI indicator is trending horizontally around 39.58, while the Elliott Oscillator has gone up from -0.089 to -0.065 over the last four sessions indicating that current market sentiment is bullish. Finally, the signal line is about to cross over the MACD line, indicating an eventual reversal of bearish momentum.