XRP/USD Technical Analysis: Market trending in a narrow range as bears take over

XRP/USD daily chart

• The XRP/USD daily market is trending in a narrow range between $0.325 and $0.310.
• The Elliot Wave Oscillator shows that the market has very low volatility.

XRP/USD 4-hour chart

• The bears have taken over the XRP/USD 4-hour chart. As the Ichimoku indicator shows, more bearish behavior is expected in the future.
• The moving average convergence/divergence (MACD) shows bearish momentum with decreasing volatility.

XRP/USD hourly chart

• The last session in the hourly XRP/USD chart was so bearish that the market has fallen below the 20-day simple moving average (SMA 20) and SMA 50.
• The hourly market is now trending in the lower half of the 20-day Bollinger band.
• The relative strength index (RSI) has taken a dip towards the neutral zone from the overbought zone.

Key Levels

• Resistance 3: $0.3294
• Resistance 2: $0.3258
• Resistance 1: $0.3216
• Pivot Point: $0.3180
• Support 1: $0.3137
• Support 2: $0.3101
• Support 3: $0.3059