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Ripple Technical Analysis: XRP/USD consolidates above $0.275 under bearish pressure

FX Street
Updated:
  • XRP/USD bears have stayed in control of the market for the second straight day.
  • The daily price chart has two healthy support levels at $0.264 (SMA 50) and $0.244.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bears have stayed in control of the market for the second straight day as the price fell from $0.2762 to $0.2752. The Elliott Oscillator has had 16 red sessions out of the last 17. The recent bearish price action has dropped the price from the edge of the overbought zone to the neutral area.

The daily price chart shows strong resistance levels at $0.283, $0.286 (SMA 20) and $0.296. On the downside, we have two healthy support levels at $0.264 (SMA 50) and $0.244.

Key levels

 

FX Street

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