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Ripple Price Analysis: XRP/USD falls despite charting golden cross

FX Street
Updated:
  • XRP/USD fell from $0.271 to $0.253 this Tuesday.
  • The Elliott Oscillator dropped from 0.058 to -0.002 over the last 11 days.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD stayed in control of the market for the third straight day, despite the SMA 50 crossing over the SMA 200 to chart the supposedly bullish golden cross pattern. This Tuesday, XRP/USD dropped from $0.271 to $0.253, falling below the support provided by the SMA 50 and SMA 200 curves. This Wednesday, the price has fallen further to $0.247 and has found support at the lower curve of the 20-day Bollinger band and the downward trending line. The MACD shows increasing bearish momentum, while the Elliott Oscillator has dropped from 0.058 to -0.002 over the last 11 days.
 

FX Street

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