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Ripple Price Analysis: XRP/USD sits on top of the lower curve of the 20-day Bollinger Band

XRP/USD bears remained in control for the second straight day.
The Elliott Oscillator has had eight consecutive red sessions.
The RSI has dipped into the oversold zone to show that the price is currently undervalued.

Rajarshi Mitra Independent Analyst

XRP/USD daily chart

XRP/USD has dropped from $0.1754 to $0.1746 as markets opened this Wednesday. The bears have remained in control for the second straight day as XRP/USD continues to flirt with the downward trending line.

The Elliott Oscillator has had eight straight red sessions, showing overall bearish dominance. Finally, the RSI has dipped into the oversold zone to indicate that the price is currently undervalued may face bullish action soon.

Support and Resistance

XRP/USD faces strong resistance at $0.1772 and $0.1826. On the downside, healthy support lies at $0.1742 (lower curve of the 20-day Bollinger Band).

Key levels

XRP/USD

Overview
Today last price	0.1742
Today Daily Change	-0.0012
Today Daily Change %	-0.68
Today daily open	0.1754

Trends
Daily SMA20	0.1862
Daily SMA50	0.1952
Daily SMA100	0.1938
Daily SMA200	0.2094

Levels
Previous Daily High	0.1778
Previous Daily Low	0.1749
Previous Weekly High	0.1905
Previous Weekly Low	0.1784
Previous Monthly High	0.2147
Previous Monthly Low	0.1692
Daily Fibonacci 38.2%	0.176
Daily Fibonacci 61.8%	0.1767
Daily Pivot Point S1	0.1743
Daily Pivot Point S2	0.1732
Daily Pivot Point S3	0.1714
Daily Pivot Point R1	0.1772
Daily Pivot Point R2	0.1789
Daily Pivot Point R3	0.18

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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