Ripple Technical Analysis: XRP/USD price currently consolidating

XRP/USD Daily Chart

• XRP/USD is priced at $0.335 as markets opened this Friday.
• The market was trending in a channel and had a bullish breakout. Currently, the market is going through a consolidation period.
• The latest session took the price below the SMA 20 curve.
• The SMA 200 is trending above the market, and the SMA 50 is trending below the market.
• The Elliot Wave Oscillator shows three consecutive bullish sessions with increasing intensity.
• On the upside, resistance levels are at $0.343, $0.350, and $0.355.
• On the downside, support levels are at $0.33, $0.323, and $0.319.

XRP/USD 4-Hour Chart

• The five latest sessions of the XRP/USD 4-hour chart has taken the price back into the 20-day Bollinger band and towards the SMA 20 curve.
• The downward trending line acts as immediate resistance.
• The MACD line is about to converge with the signal line to show decreasing bullish momentum.

XRP/USD Hourly Chart

• The hourly XRP/USD chart is trending inside a channel.
• The Ichimoku indicator shows that market sentiment could turn from bearish to bullish soon.
• The market has found support on the SMA 50 curve.
• The relative strength index (RSI) indicator has dived into the oversold territory.

Key Levels