Ripple Technical Analysis: XRP/USD market bears in the waiting room ready to take Ripple down into the trenches
|- Ripple price is one of the underperformers on Wednesday, down over 3.5% in the session.
- XRP/USD has formed a bearish pennant on the 30-minute chart view, indicating the supporting trend line could be on its final legs.
- Price action is very much narrow in the first half of this session, upper resistance at $0.5325 with support at $0.5280.
XRP/USD 30-minute chart
Spot rate: 0.52958
Relative change: -3.57%
High: 0.55061
Low: 0.55240
Trend: Bearish
Support 1: 0.52800, ascending trend line.
Support 2: 0.52240, today’s (Wednesday) low.
Support 3: 0.51602, (support on 30-minute chart).
Resistance 1: 0.53250, upper trend line of pennant pattern.
Resistance 2: 0.53650, 100MA.
Resistance 3: 0.53885, 38.2% Fibonacci & 50MA.
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