XRP/USD bulls consolidate price above the $0.30-level

• XRP/USD bulls take over control, following bearish Tuesday.
• The price continues to consolidate above the $0.30 level.

XRP/USD daily chart

XRP/USD bulls stepped back into the market following a bearish Tuesday as the price crept above the upward trending line. The price has gone up slightly from $0.3027 to $0.3041. The 20-day Bollinger Band has narrowed, showing decreasing price volatility. 

The Elliott Oscillator has had two straight red sessions, showing that the market sentiment is presently bearish. The relative strength index (RSI) indicator is trending alongside the overbought zone. The price chart shows two strong resistance levels at $0.3059 and $0.3175. On the downside, we have two healthy support levels at $0.297 (SMA 20) and $0.282.

Key levels