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Ripple Price Analysis: XRP/USD consolidates below the $0.2-level

FX Street
Updated:
  • 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 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).

Key levels

 

FX Street

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