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Ripple's XRP Technical Analysis: XRP/USD $0.3000 is the make or break

  • Ripple's XRP price on Friday is trading with decent gains of some 5% in the second part of the session. 
  • XRP/USD continues to flirt with $0.3000 after the price was briefly forced to trade below late on Thursday and early hours Friday. 
  • Heavy defending continues to be observed in and around the $0.3000, a large buying area. 
Ripple's XRP Technical Analysis: XRP/USD $0.3000 is the make or break
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                0.2952

Relative change:     +4.15%

High:                       0.2978  

Low:                        0.2852

XRP/USD

Overview
Today last price0.2951
Today Daily Change0.0068
Today Daily Change %2.36
Today daily open0.2883
 
Trends
Daily SMA200.3316
Daily SMA500.3232
Daily SMA1000.3183
Daily SMA2000.3622
Levels
Previous Daily High0.3078
Previous Daily Low0.2827
Previous Weekly High0.3491
Previous Weekly Low0.3137
Previous Monthly High0.3276
Previous Monthly Low0.287
Daily Fibonacci 38.2%0.2923
Daily Fibonacci 61.8%0.2982
Daily Pivot Point S10.2781
Daily Pivot Point S20.2679
Daily Pivot Point S30.253
Daily Pivot Point R10.3032
Daily Pivot Point R20.318
Daily Pivot Point R30.3283

XRP/USD 60-minute chart

  • Price broke out from a bearish 60-minute flag formation, to then consolidate and produce another flag structure subject to a breakout. 

XRP/USD daily chart

  • Buyers continue to heavily protect the $0.3000 price area, historicalyl known to attract the bulls. 

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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