Ripple Price Analysis: XRP/USD drops below $0.20 psychological level encountering resistance at the downward trending line
|- Elliott Oscillator has had a green session following 12 straight red sessions.
- XRP/USD faces two strong resistance levels on the upside at $0.204 and $0.211.
XRP/USD daily chart
XRP/USD encountered resistance at the downward trending line and dropped from $0.204 to $0.199, going below the $0.20 psychological level. The 20-day Bollinger jaw is slowly narrowing, which shows that the price volatility is gradually decreasing. The bears will want to aim for the $0.1928 and $0.182 support levels to continue the downward movement.
If bulls do take back control, they will need to conquer resistance at the downward trending line, $0.204, $0.211, and SMA 20.
Key levels
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