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  • XRP/USD dropped below the downward channel formation and the 20-day Bollinger Band.
  • The RSI is trending around 22.42 inside the oversold zone.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD plummetted from $0.209 to $0.138 this Thursday. The bulls are desperately trying to make a comeback, as the price has gone up slightly to $0.14. This Thursday’s extreme bearish action has dipped the price below the downward channel pattern and the 20-day Bollinger Band. The MACD indicates increasing bearish momentum, while the Elliott Oscillator has had seven straight red sessions. The RSI is trending around 22.42 inside the oversold zone.
 

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