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Ripple's XRP technical analysis: XRP/USD a weekly closure above $0.3000 is critical for greater gains

  • Ripple's XRP price is trading with the red by some 3.10% in the session on Wednesday. 
  • XRP/USD is moving above and below the big psychological $0.3000, 
  • The price has not comfortable traded within the $0.3000 region since mid-August. 
Ripple's XRP technical analysis: XRP/USD a weekly closure above $0.3000 is critical for greater gains
Ken ChigboKen ChigboIndependent Analyst

XRP/USD weekly chart

The price is having a battle with $0.3000, a weekly closure above could be detrimental for further recovery. 

XRP/USD daily chart

Price action via the daily chart view is trading just outside of a bearish flag structure, which demonstrated some potential vulnerabilities to the downside. 

Spot rate:                 0.3052

Relative change:      -3.35%

High:                         0.3067

Low:                          0.2906

XRP/USD

Overview
Today last price0.2927
Today Daily Change-0.0099
Today Daily Change %-3.27
Today daily open0.3026
 
Trends
Daily SMA200.2876
Daily SMA500.2725
Daily SMA1000.28
Daily SMA2000.3263
 
Levels
Previous Daily High0.31
Previous Daily Low0.296
Previous Weekly High0.3089
Previous Weekly Low0.2489
Previous Monthly High0.327
Previous Monthly Low0.2168
Daily Fibonacci 38.2%0.3047
Daily Fibonacci 61.8%0.3014
Daily Pivot Point S10.2957
Daily Pivot Point S20.2889
Daily Pivot Point S30.2817
Daily Pivot Point R10.3097
Daily Pivot Point R20.3169
Daily Pivot Point R30.3237

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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