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Ripple Technical Analysis: XRP/USD price not moving back above $0.5000, as near-term descending trend limits Ripple's upside potential

Ripple price struggles to find commitment in trend, as trading narrows for now, down 0.2% on Friday.
XRP/USD upside is capped ahead of $0.5000, with a near-term descending channel preventing further upside.

Ken Chigbo Independent Analyst

XRP/USD 4-hour chart

Spot rate: 0.4757

Relative change: -0.20%

High: 0.4814

Low: 0.4589

Trend: Neutral

Support 1: 0.4710, 50MA.

Support 2: 0.4550-95, demand zone.

Support 3: 0.4490, (support on 4-hour chart).

Resistance 1: 0.4810, 100MA.

Resistance 2: 0.4990, descending trend line.

Resistance 3: 0.5080, (resistance on 4-hour chart).

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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