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Ripple Technical Analysis: XRP/USD sitting on a launch pad ahead of another potential rocket higher to recovery

  • Ripple is trading down over 2% on Tuesday, as price consolidates post the big moves seen on Monday. 
  • XRP/USD is support in the near-term by a former resistance area, price could use this as a launch pad for further moves north. 
Ripple Technical Analysis: XRP/USD sitting on a launch pad ahead of another potential rocket higher to recovery
Ken ChigboKen ChigboIndependent Analyst

XRP/USD 15-minute chart

Spot rate:                    0.47143.

Relative change:        -2.28%.

High:                           0.48364.

Low:                            0.46882.

Trend:                         Neutral.

Resistance 1:            0.47600, 23.6% Fibonacci. 

Resistance 2:            0.47755, (resistance on 15-minute chart).

Resistance 3:            0.48000, supply zone. 

Support 1:                 0.47034, ascending supporting trend line. 

Support 2:                  0.46980, 38.2% Fibonacci.

Support 3:                 0.46555, (support on 15-minute chart). 

Author

Ken Chigbo

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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