XRP/USD daily chart
- XRP/USD has had two straight bearish days wherein the price fell down from $0.445 to $0.398.
- XRP/USD is currently priced at $0.399.
- During this Tuesday, XRP/USD breached past the support provided by the $0.409-level and the 20-day simple moving average (SMA 20) curve.
- The Elliot oscillator has had five straight bearish sessions.
XRP/USD 4-hour chart
- The 4-hour chart shows that the bulls are attempting a comeback. The two latest sessions are bullish and trending in an upward channel formation. Over these sessions, the price has gone up from $0.39 to $0.399.
- Before these two sessions, XRP/USD had a heavily bearish session, which took the 4-hour price below the lower band of the 20-day Bollinger band, indicating that the price was undervalued. This prompted the bulls to re-enter the market.
- The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign.
- The relative strength index (RSI) indicator is bounced off from the oversold territory and is currently trending around 37.65.
XRP/USD hourly chart
- The bears broke the hourly XRP/USD price below the green cloud of the Ichimoku indicator and it is currently trending below the red cloud.
- The price formed a head and shoulders pattern and is currently trending in an upward channel formation.
- The bulls will need to gather enough momentum to break past resistance at $0.405.
- The moving average convergence/divergence (MACD) indicator shows two straight bullish sessions, indicating that the market momentum in the short-term is bullish.
BEST BROKERS TO TRADE CRYPTO
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.