Ripple Technical Analysis: XRP/USD bears have control as bulls try to fight back

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XRP/USD Daily Chart

  • XRP/USD went down from $0.390 to $0.384 in the early hours of Saturday.
  • The 20-day Bollinger band shows that the market is volatile.
  • The MACD (moving average convergence divergence) indicator shows decreasing market volatility.
  • The closest support level at the downside lies at $0.365.
  • The market is trending above the SMA 200, SMA 50, and SMA 20 curves. 
  • The SMA 20 curve is going to crossover with the SMA 50 curve, which is a bullish sign.

XRP/USD 4-Hour Chart

  • The 4-hour XRP/USD market is prime for a breakout from a triangle formation.
  • The Ichimoku indicator shows that current and future sentiment on the 4-hour market is bearish.
  • The relative strength index (RSI) indicator is trending at the neutral zone.

XRP/USD Hourly Chart

  • The hourly XRP/USD chart has been trending horizontally for some time before it had a bullish breakout.
  • The market forms a triangle formation and is ready for a breakout.
  • The Elliot wave oscillator shows sustained bullish sessions. However, it is still trending in the negative.
  • The market is trending above the SMA 200 and SMA 20 curves.
  • The market is trending below the SMA 50 curve.
  • The market found resistance at $0.39 from where it went down. 

Key Levels

 

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