Ripple Technical Analysis: XRP/USD falling wedge flashes signs of a reversal
|- Ripple is forced down towards the key support at $0.20.
- Ripple bulls have no choice but to defend the tentative support at $0.21 and focus on growing an uptrend above $0.24.
XRP/USD daily chart
Ripple is unable to put an end to the downtrend, especially with the RSI sliding towards the overbought.
The falling wedge pattern is a ray of hope that a reversal is imminent.
XRP/USD 4-hour chart
Ripple risks symmetrical triangle breakdown, targeting $0.20 support.
The immediate upside is capped by the moving averages including the 100 SMA and the 50 SMA.
Spot rate: $0.2187
Relative change: 0.000035
Percentage change: 0.02%
Trend: Strongly bearish
Volatility: Low
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