Rajarshi Mitra
Independent Analyst
- 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.
XRP/USD daily chart
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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
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