Ripple's XRP Technical Analysis: XRP/USD price behavior has formed another bearish set up
|- Ripple's XRP is seen down by just over 0.50% in the session on Wednesday, as markets remains somewhat mixed across the board.
- XRP/USD price action has formed a bearish pennant pattern as seen on the 60-minute chart view.
- Ripple's chief marketing strategist in a recent interview, on the point of securities, noted that XRP is clearly not a security.
- It has been a number of months now, for market calls and pressures for the SEC to clarify their stance on XRP, if it should be classes as a security or not.
XRP/USD 60-minute chart
Spot rate: 0.4432
Relative change: -0.56%
High: 0.4509
Low: 0.4416
Trend: Bearish
Support 1: 0.4413, lower part pennant pattern & daily pivot point support.
Support 2: 0.4368, daily pivot point support.
Support 3: 0.4320, 29 October low & daily pivot point support.
Resistance 1: 0.4442, upper part of pennant & 50MA (4-hour).
Resistance 2: 0.4505, daily pivot point resistance & 30 October high.
Resistance 3: 0.4515, 100MA (4-hour).
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