- The bulls and bears are currently wrestling for control in the early hours of Wednesday.
- The Elliott Oscillator has had three straight red sessions.
XRP/USD daily chart
XRP/USD bears regained control after a slightly bullish Tuesday. The price has gone down from $0.1991 to $0.1990 in the early hours of Wednesday. The price has dropped below the flag formation and is consolidating under the $0.2–level.
The Elliott Oscillator has had three straight red sessions, while the RSI is trending horizontally below the overbought zone.
Support and Resistance
XRP/USD has strong resistance levels at $0.202 and $0.206. On the downside, healthy support lies at $0.1938, $0.1926 (SMA 50), $0.1888 and $0.1878 (SMA 20).