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Ripple price analysis: XRP/USD dips back into the Bollinger band

FX Street
Updated:
  • XRP/USD is currently trading for $0.29.
  • RSI indicator drops down from the overbought zone.

XRP/USD bears stepped in this Thursday to correct the price following a bullish Wednesday. The price of Ripple went down from $0.315 to $0.291, going below the $0.30-zone in the process. The hourly breakdown of Ripple shows us that the price fell from $0.315 to $0.302 within one hour.  

XRP/USD daily chart

fxsoriginal

The price went above the 20-day Bollinger Band this Wednesday, indicating that it was overvalued and was due for a bearish correction. The bears promptly brought the price back inside the Band. The Moving Average Convergence/Divergence (MACD) indicator shows increasing bullish momentum. The Relative Strength Index (RSI) indicator has dropped from the overbought zone to 60.93.  
 

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