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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.