XRP/USD: technical analysis
Current trend
XRP/USD continues to trade within a long-term downward channel, but recently the price of the token has been consolidating around 0.7500 (center line of Bollinger Bands, Fibonacci retracement 61.8%).
The key point for the "bears" is still 0.6836 (Murray [2/8], the lower line of Bollinger Bands), the breakdown of which will allow quotes to fall to the levels of 0.5859 (Murray [0/8]) and 0.5371 (Murray [-1/8]). If the central level of Murray's trading range is broken out, the price will rise to the levels of 0.8789 (Murray [6/8]), 0.9100 (50.0% Fibonacci retracement).
Technical indicators don't provide a clear signal: Bollinger Bands are directed downwards, confirming the continuation of the downtrend, MACD is near the zero line, its volumes are insignificant; however, Stochastic is reversing upwards, which does not exclude the continuation of corrective growth.
Support and resistance
Resistance levels: 0.7812, 0.8789, 0.9100.
Support levels: 0.6836, 0.5859, 0.5371.
XRP/USD continues to trade within a long-term downward channel, but recently the price of the token has been consolidating around 0.7500 (center line of Bollinger Bands, Fibonacci retracement 61.8%).
The key point for the "bears" is still 0.6836 (Murray [2/8], the lower line of Bollinger Bands), the breakdown of which will allow quotes to fall to the levels of 0.5859 (Murray [0/8]) and 0.5371 (Murray [-1/8]). If the central level of Murray's trading range is broken out, the price will rise to the levels of 0.8789 (Murray [6/8]), 0.9100 (50.0% Fibonacci retracement).
Technical indicators don't provide a clear signal: Bollinger Bands are directed downwards, confirming the continuation of the downtrend, MACD is near the zero line, its volumes are insignificant; however, Stochastic is reversing upwards, which does not exclude the continuation of corrective growth.
Support and resistance
Resistance levels: 0.7812, 0.8789, 0.9100.
Support levels: 0.6836, 0.5859, 0.5371.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.