XRP / Dollar may fall to 0.4740 - 0.4798

Our pivot point stands at 0.5132.

Our preference

The downside prevails as long as 0.5132 is resistance.

Alternative scenario

Above 0.5132, look for 0.5233 and 0.5294.

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 0.5170 and 0.5201).

Supports and resistances

0.5294 **

0.5233 *

0.5132 **

0.5092

0.4947 last

0.4798

0.4740 **

0.4681 *

0.4622 **

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