Ripple Technical Analysis: XRP/USD price behavior suggesting of an imminent breakout, as range is narrowing on Thursday
|- Ripple bounced back with modest gains of 1% on Thursday, after a slow session seen yesterday.
- XRP/USD price action is narrowing, behaviour suggests of potential breakout pending, with bulls gradually gathering momentum.
- Next upside challenge isn’t too far ahead, supply zone seen entering the $0.70 region.
XRP/USD 60-minute chart
Spot rate: 0.6816
Relative change: +1.10%
High: 0.6888
Low: 0.6733
Trend: Bullish
Resistance 1: 0.6860, above long-running descending trend line.
Resistance 2: 0.7000, supply zone
Resistance 3: 0.7500, (resistance on 60-minute)
Support 1: 0.6730. 50MA.
Support 2: 0.6670, 100MA.
Support 3: 0.6550, 5th June low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.