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XRP/USD Price Analysis: Bearish momentum halted by upward trending line

FX Street
Updated:
  • Upside potential is capped by the SMA 20 curve.
  • The Elliott Oscillator has had six straight bullish sessions.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD fell from $0.193 to $0.192 in the early hours of Thursday. The price faces resistance at the 20-day Simple Moving Average (SMA 20) curve and support at the upward trending line. The price volatility is decreasing rapidly, as seen by the shrinking of the 20-day Bollinger jaw. The Elliott Oscillator has had six straight green sessions, indicating sustained bullish sentiment, while the Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.
 

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