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Ripple Price Analysis: XRP/USD falls below $0.30

FX Street
Updated:
  • XRP/USD went down from $0.288 to $0.286 as markets opened this Friday.
  • Price went down from $0.303 to $0.287 within 45 mins this Thursday.

XRP/USD bears beat out the bulls as price broke below $0.30. Price went down from $0.303 to $0.287 within 45 mins this Thursday. Currently, XRP/USD is trading for $0.286 as markets opened this Friday. There is a massive bearish sentiment in the market following the Bitfinex-Tether debacle. Bulls have to protect critical $0.284 support line.

XRP/USD Daily Chart

  • This Thursday’s session took XRP/USD below the 20-day Bollinger band.
  • The market is trending below the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves.
  • The six latest sessions of the Elliot wave oscillator are bearish.
  • The signal line is diverging away from the moving average convergence divergence (MACD) line showing increasing bearish momentum.
  • The relative strength index (RSI) indicator has moved into the oversold territory.
     

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