XRP/USD daily chart
- XRP/USD went up from $0.393 to $0.402 throughout this Wednesday.
- In the early hours of Thursday, the price of XRP/USD went up further to $0.408.
- The price has gained support on the upward trending line.
- Immediate resistance lies at $0.41.
- The daily XRP/USD is trending below the 20-day simple moving average (SMA 20) curve and above the SMA 200 and SMA 50 curves.
- The Elliot oscillator has now gone into the negative zone following 13 straight bearish sessions.
XRP/USD 4-hour chart
- The latest session of the 4-hour XRP/USD price has gone above the upper curve of the 20-day Bollinger band, indicating that the price is overvalued.
- The five latest sessions are trending above the SMA 20 curve.
- The widening of the Bollinger jaw shows increasing market volatility.
- The signal line is diverging away from the moving average convergence/divergence (MACD) line, indicating increasing bullish momentum.
XRP/USD hourly chart
- The hourly XRP/USD was trending in a downward channel formation before the bulls took the price up from $0.399 to $0.408 within three hours.
- The price was trending in the green Ichimoku cloud before the price had a bullish breakout.
- The relative strength index (RSI) indicator has crept into the overbought zone and is trending at 71.