XRP / Dollar may fall to 0.5772 - 0.5838

Our pivot point stands at 0.6208.

Our preference

The downside prevails as long as 0.6208 is resistance.

Alternative scenario

The upside breakout of 0.6208, would call for 0.6321 and 0.6389.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6231 and 0.6374). Finally, the XRP / Dollar is trading below its lower Bollinger band (standing at 0.6028).

Supports and resistances

0.6389 **

0.6321 *

0.6208 **

0.6163

0.5991 last

0.5838

0.5772 **

0.5706 *

0.5640 **

Number of asterisks represents the strength of support and resistance levels.