Ripple's XRP Price Analysis: XRP/USD subject to breakout of a bearish wedge
|- Ripple's XRP price is trading in minor negative territory, nursing loses of 0.80% on Wednesday.
- XRP/USD price action is moving within a range block formation via the daily chart view.
- The price is moving within a range high up at $0.2400 down to a low of $0.2300.
XRP/USD daily chart
Given the large narrowing in price action, a breakout could very well be explosive for XRP/USD. The price is moving within an ascending wedge structure, subject to a breach.
XRP/USD 60-minute chart
Price action is moving within a near-term bearish flag structure, at risk of a breakout to the downside.
Spot rate: 0.2368
Relative change: -0.80%
High: 0.2394
Low: 0.2321
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