Home Ripple Price Analysis: XRP/USD enters the overbought zone and may face bearish correction
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Ripple Price Analysis: XRP/USD enters the overbought zone and may face bearish correction

FX Street
Updated:
  • XRP/USD jumped up from $0.251 to $0.267 this Tuesday.
  • The MACD and Elliott Oscillator both indicate increasing bullish sentiment.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD is on course of charting its fifth straight bullish day going up from $0.267 to $0.27 in the early hours of Wednesday. For the last four days, the price has been trending above the 20-day Bollinger Band, showing that the asset is overpriced. This is further corroborated by the fact that the RSI indicator is hovering around 72.25, inside the overbought zone. 

This Tuesday, the price spiked from $0.251 to $0.267 and broke past the resistance provided by the SMA 200 curve. Both the MACD and Elliott Oscillator indicate increasing bullish market sentiment.
 

FX Street

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