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Ripple technical analysis: XRP/USD keeps crawling along horizontally

FX Street
Updated:
  • XRP/USD went down from $0.262 to $0.261 so far this Tuesday.
  • The SMA 20 curve acts as immediate market support.

XRP/USD daily chart

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XRP/USD daily price keeps trending along horizontally. The price has gone down so far from $0.262 to $0.261 this Tuesday. The 200-day simple moving average (SMA 200) and SMA 50 curves are trending above the XRP/USD price. The SMA 20 curve acts as immediate market support.  

XRP/USD 4-hour chart

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The 4-hour XRP/USD is consolidating within a triangle formation. The price broke above the red Ichimoku cloud. The SMA 200 acts as market resistance while trending above the SMA 50 and SMA 20 curves. The Elliott oscillator shows 11 straight bearish sessions.

XRP/USD hourly chart

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The hourly XRP/USD chart is trending in a downward channel formation. The narrowing of the 20-day Bollinger jaw shows decreasing market volatility. The latest price session has dropped below the SMA 50 curve, while it above the SMA 200 and SMA 20 curves. The relative strength index (RSI) indicator is trending around 50.

Key Levels

 

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