- XRP/USD bears have stayed in control for the second straight day.
- XRP/USD fell below the pennant formation following Tuesday’s bearish price action.
XRP/USD daily chart
XRP/USD bears have strayed in control of the market for two straight days. The price has dropped from $0.2765 to $0.2753 as it keeps trending in the lower half of the 20-day Bollinger Band. The Elliott Oscillator has had nine consecutive, which indicates that the overall market sentiment is bearish.
As per the daily price chart, there are three strong resistance levels at $0.287, $0.2912 (SMA 20) and $0.3024. On the downside, we have three healthy support levels at $0.259, $0.254 (SMA 50) and $0.245.