XRP/USD on course of recovering Tuesday’s losses

Fibo Quantum

  • XRP/USD went up from $0.295 to $0.309 this Wednesday.
  • The relative strength index (RSI) bounced up from the oversold zone.

XRP/USD went up from $0.295 to $0.309 this Wednesday, on course to recover this Tuesday’s losses wherein it went down from $0.312 to $0.295. The 60-min intraday chart shows that the price went up to $0.321, where it met resistance and went back down to $0.309. 

XRP/USD daily chart

The daily price chart is trending just above the lower curve of the 20-day Bollinger band, showing that the price is not undervalued yet. The price is also trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows sustained bearish momentum. The Elliot oscillator shows eight straight bearish sessions. Finally, the relative strength index (RSI) bounced up from the oversold zone.