Ripple technical analysis: XRP/USD drops below the upward channel formation
11/8/2019 3:00:02 AM
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XRP/USD went down from $0.2905 to $0.289 so far this Friday. After dropping below the $0.30-zone and the upward channel formation this Thursday, the

  • XRP/USD kept falling after dropping below the $0.30-level.
  • The Relative Strength Index is hugging the edge of the oversold territory in the hourly chart.
  • XRP/USD kept falling after dropping below the $0.30-level.
  • XRP/USD kept falling after dropping below the $0.30-level.
  • The Relative Strength Index is hugging the edge of the oversold territory in the hourly chart.
  • The Relative Strength Index is hugging the edge of the oversold territory in the hourly chart.

    XRP/USD daily chart

    fxsoriginal

    fxsoriginalfxsoriginal

    XRP/USD went down from $0.2905 to $0.289 so far this Friday. After dropping below the $0.30-zone and the upward channel formation this Thursday, the bears have remained in control. The Moving Average Convergence/Divergence (MACD) indicates sustained bearish sentiment. The 20-day Simple Moving Average (SMA 20) acts as immediate market resistance.

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    XRP/USD 4-hour chart

    fxsoriginal

    fxsoriginalfxsoriginal

    The 4-hour market broke past the green Ichimoku cloud and has found resistance at the red cloud. The Elliott Oscillator has had seven straight red sessions.

    XRP/USD hourly chart

    fxsoriginal

    fxsoriginalfxsoriginal

    The hourly chart is trending horizontally inside the 20-day Bollinger band. The SMA 20 curve acts as immediate market resistance while the constricting of the 20-day Bollinger jaw shows decreasing price volatility. The Relative Strength Index is hugging the edge of the oversold territory.

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    Key Levels

    XRP/USD

    Overview
    Today last price 0.2894
    Today Daily Change -0.0010
    Today Daily Change % -0.34
    Today daily open 0.2904
     
    Trends
    Daily SMA20 0.2942
    Daily SMA50 0.2788
    Daily SMA100 0.2783
    Daily SMA200 0.3249
     
    Levels
    Previous Daily High 0.3149
    Previous Daily Low 0.2749
    Previous Weekly High 0.31
    Previous Weekly Low 0.2854
    Previous Monthly High 0.315
    Previous Monthly Low 0.2425
    Daily Fibonacci 38.2% 0.2902
    Daily Fibonacci 61.8% 0.2996
    Daily Pivot Point S1 0.2718
    Daily Pivot Point S2 0.2533
    Daily Pivot Point S3 0.2317
    Daily Pivot Point R1 0.3119
    Daily Pivot Point R2 0.3335
    Daily Pivot Point R3 0.352

     

    XRP/USD

    Overview
    Today last price 0.2894
    Today Daily Change -0.0010
    Today Daily Change % -0.34
    Today daily open 0.2904
     
    Trends
    Daily SMA20 0.2942
    Daily SMA50 0.2788
    Daily SMA100 0.2783
    Daily SMA200 0.3249
     
    Levels
    Previous Daily High 0.3149
    Previous Daily Low 0.2749
    Previous Weekly High 0.31
    Previous Weekly Low 0.2854
    Previous Monthly High 0.315
    Previous Monthly Low 0.2425
    Daily Fibonacci 38.2% 0.2902
    Daily Fibonacci 61.8% 0.2996
    Daily Pivot Point S1 0.2718
    Daily Pivot Point S2 0.2533
    Daily Pivot Point S3 0.2317
    Daily Pivot Point R1 0.3119
    Daily Pivot Point R2 0.3335
    Daily Pivot Point R3 0.352

    XRP/USD

    Overview
    Today last price 0.2894
    Today Daily Change -0.0010
    Today Daily Change % -0.34
    Today daily open 0.2904
     
    Trends
    Daily SMA20 0.2942
    Daily SMA50 0.2788
    Daily SMA100 0.2783
    Daily SMA200 0.3249
     
    Levels
    Previous Daily High 0.3149
    Previous Daily Low 0.2749
    Previous Weekly High 0.31
    Previous Weekly Low 0.2854
    Previous Monthly High 0.315
    Previous Monthly Low 0.2425
    Daily Fibonacci 38.2% 0.2902
    Daily Fibonacci 61.8% 0.2996
    Daily Pivot Point S1 0.2718
    Daily Pivot Point S2 0.2533
    Daily Pivot Point S3 0.2317
    Daily Pivot Point R1 0.3119
    Daily Pivot Point R2 0.3335
    Daily Pivot Point R3 0.352

    XRP/USD

    Overview
    Today last price 0.2894
    Today Daily Change -0.0010
    Today Daily Change % -0.34
    Today daily open 0.2904
     
    Trends
    Daily SMA20 0.2942
    Daily SMA50 0.2788
    Daily SMA100 0.2783
    Daily SMA200 0.3249
     
    Overview
    Today last price 0.2894
    Today Daily Change -0.0010
    Today Daily Change % -0.34
    Today daily open 0.2904
    Overview Overview Overview Today last price 0.2894 Today Daily Change -0.0010 Today Daily Change % -0.34 Today daily open 0.2904 Today last price 0.2894 Today last price0.28940.2894 Today Daily Change -0.0010 Today Daily Change-0.0010-0.0010 Today Daily Change % -0.34 Today Daily Change %-0.34-0.34 Today daily open 0.2904 Today daily open0.29040.2904
     
    Trends
    Daily SMA20 0.2942
    Daily SMA50 0.2788
    Daily SMA100 0.2783
    Daily SMA200 0.3249
    Trends Trends Trends Daily SMA20 0.2942 Daily SMA50 0.2788 Daily SMA100 0.2783 Daily SMA200 0.3249 Daily SMA20 0.2942 Daily SMA200.29420.2942 Daily SMA50 0.2788 Daily SMA500.27880.2788 Daily SMA100 0.2783 Daily SMA1000.27830.2783 Daily SMA200 0.3249 Daily SMA2000.32490.3249
     
    Levels
    Previous Daily High 0.3149
    Previous Daily Low 0.2749
    Previous Weekly High 0.31
    Previous Weekly Low 0.2854
    Previous Monthly High 0.315
    Previous Monthly Low 0.2425
    Daily Fibonacci 38.2% 0.2902
    Daily Fibonacci 61.8% 0.2996
    Daily Pivot Point S1 0.2718
    Daily Pivot Point S2 0.2533
    Daily Pivot Point S3 0.2317
    Daily Pivot Point R1 0.3119
    Daily Pivot Point R2 0.3335
    Daily Pivot Point R3 0.352
    Levels
    Previous Daily High 0.3149
    Previous Daily Low 0.2749
    Previous Weekly High 0.31
    Previous Weekly Low 0.2854
    Previous Monthly High 0.315
    Previous Monthly Low 0.2425
    Daily Fibonacci 38.2% 0.2902
    Daily Fibonacci 61.8% 0.2996
    Daily Pivot Point S1 0.2718
    Daily Pivot Point S2 0.2533
    Daily Pivot Point S3 0.2317
    Daily Pivot Point R1 0.3119
    Daily Pivot Point R2 0.3335
    Daily Pivot Point R3 0.352
    Levels Levels Levels Previous Daily High 0.3149 Previous Daily Low 0.2749 Previous Weekly High 0.31 Previous Weekly Low 0.2854 Previous Monthly High 0.315 Previous Monthly Low 0.2425 Daily Fibonacci 38.2% 0.2902 Daily Fibonacci 61.8% 0.2996 Daily Pivot Point S1 0.2718 Daily Pivot Point S2 0.2533 Daily Pivot Point S3 0.2317 Daily Pivot Point R1 0.3119 Daily Pivot Point R2 0.3335 Daily Pivot Point R3 0.352 Previous Daily High 0.3149 Previous Daily High0.31490.3149 Previous Daily Low 0.2749 Previous Daily Low0.27490.2749 Previous Weekly High 0.31 Previous Weekly High0.310.31 Previous Weekly Low 0.2854 Previous Weekly Low0.28540.2854 Previous Monthly High 0.315 Previous Monthly High0.3150.315 Previous Monthly Low 0.2425 Previous Monthly Low0.24250.2425 Daily Fibonacci 38.2% 0.2902 Daily Fibonacci 38.2%0.29020.2902 Daily Fibonacci 61.8% 0.2996 Daily Fibonacci 61.8%0.29960.2996 Daily Pivot Point S1 0.2718 Daily Pivot Point S10.27180.2718 Daily Pivot Point S2 0.2533 Daily Pivot Point S20.25330.2533 Daily Pivot Point S3 0.2317 Daily Pivot Point S30.23170.2317 Daily Pivot Point R1 0.3119 Daily Pivot Point R10.31190.3119 Daily Pivot Point R2 0.3335 Daily Pivot Point R20.33350.3335 Daily Pivot Point R3 0.352 Daily Pivot Point R30.3520.352