XRP / Dollar may fall to 0.5018 - 0.5083

0.5335 is our pivot point.

Our preference

The downside prevails as long as 0.5335 is resistance.

Alternative scenario

Above 0.5335, look for 0.5445 and 0.5510.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5317 and 0.5316). Finally, the XRP / Dollar is trading below its lower Bollinger band (standing at 0.5243).

Supports and resistances

0.5510 **

0.5445 *

0.5335 **

0.5292

0.5229 last

0.5083

0.5018 **

0.4954 *

0.4889 **

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