Ripple technical analysis: XRP/USD crashed by 9.7% in two hours on Wednesday

Ripple technical analysis: XRP/USD crashed by 9.7% in two hours on Wednesday

Thursday, July 11, 2019, 4:05 AM
  • XRP/USD fell below the $0.40-level over the last two days.
  • The price is currently trending in a downward channel formation.

XRP/USD daily chart

XRP/USD has gone down from $0.36 to $0.356 in the early hours of Thursday, following Wednesday’s crash. The 50-day simple moving average (SMA 50) has crossed over with the SMA 20 curve, which is a bearish sign. The daily price chart is trending in a downward channel formation. The relative strength index (RSI) indicator is trending around 36.36, right next to the oversold territory.

XRP/USD 4-hour chart

The 4-hour price chart is currently consolidating in a flag formation, following the price crash, which pushed the price below the lower curve the 20-day Bollinger band. The price eventually trended back inside the band. The widening of the 20-day Bollinger jaw shows increasing market volatility. The SMA 50 has crossed over the SMA 20, indicating bearish sentiment. The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.

XRP/USD hourly chart

The hourly chart shows a better representation of the price crash. XRP/USD fell from $0.39 to $0.354 within two hours. The price is trending in a flag formation, getting primed for a breakout. The Elliot oscillator shows six bullish sessions in a row following the crash, which shows that the bulls are attempting a comeback.

Key Levels

XRP/USD

OVERVIEW
Today last price0.3602
Today Daily Change-0.0006
Today Daily Change %-0.17
Today daily open0.3608
TRENDS
Daily SMA200.4181
Daily SMA500.4157
Daily SMA1000.3756
Daily SMA2000.3502
LEVELS
Previous Daily High0.3972
Previous Daily Low0.3457
Previous Weekly High0.4277
Previous Weekly Low0.3741
Previous Monthly High0.5074
Previous Monthly Low0.3704
Daily Fibonacci 38.2%0.3654
Daily Fibonacci 61.8%0.3775
Daily Pivot Point S10.3386
Daily Pivot Point S20.3164
Daily Pivot Point S30.2871
Daily Pivot Point R10.3901
Daily Pivot Point R20.4194
Daily Pivot Point R30.4416

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