XRP / Dollar may fall to 0.4652 - 0.4694

Our pivot point is at 0.4833.

Our preference

The downside prevails as long as 0.4833 is resistance.

Alternative scenario

Above 0.4833, look for 0.4902 and 0.4944.

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 stands below its 20 and 50 period moving average (respectively at 0.4801 and 0.4838).

Supports and resistances

0.4944 **

0.4902 *

0.4833 **

0.4805

0.4778 last

0.4694

0.4652 **

0.4611 *

0.4569 **

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