XRP / Dollar may fall to 0.5101 - 0.5153

Our pivot point stands at 0.5335.

Our preference

The downside prevails as long as 0.5335 is resistance.

Alternative scenario

Above 0.5335, look for 0.5423 and 0.5476.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5307 and 0.5327). Finally, the XRP / Dollar has penetrated its lower Bollinger band (0.5260).

Supports and resistances

0.5476 **

0.5423 *

0.5335 **

0.5300

0.5259 last

0.5153

0.5101 **

0.5048 *

0.4995 **

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