Ripple technical analysis: XRP/USD narrowing towards a bearish triangle breakdown
|- Selling activity continues to force Ripple against critical support areas at $0.25 and $0.24 respectively.
- Impending breakout due to the descending triangle pattern breakdown becomes apparent with every negative stride.
Spot rate: $0.2521
Relative Change: -0.003515
Open: $0.2554
High: $0.2561
Low: $0.2520
Trend: Bullish
XRP/USD 4-hour chart
Ripple’s upside is limited by the simple moving averages (50 SMA 4-hours and 100 SMA 4-hours) marginally below $0.26 (seller congestion zone).
The Relative Strength Index and the Moving Average Convergence Divergence signal a growing bearish momentum.
XRP/USD daily chart
Premature falling wedge pattern breakout fails to catch momentum to clear $0.2750 resistance.
Ripple price still searching for a bottom to reverse this current downtrend.
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