Ripple's XRP Technical Analysis: XRP/USD at risk of latest bull run reversal


  • XRP price on Thursday is weighted to the downside, trading in negative territory by 3.5%.
  • XRP/USD price action is being within an extremely narrowing range, which suggests of further vulnerabilities. 

XRP/USD 15-minute chart

  • Price action is narrowing greatly which spells further potential danger, within near-term range-block. 

 

Spot rate:                 29.90

Relative change:      -3.22%

High:                         32.25

Low:                          29.78

 

Trend:                        Bearish

 

Support 1:                  0.3636, daily pivot point support.

Support 2:                  0.3447, daily pivot point support.

Support 3:                  0.3275, daily pivot point support.

Resistance 1:             0.3998, daily pivot point resistance.

Resistance 2:             0.4171, daily pivot point resistance.

Resistance 3:             0.4360, daily pivot point resistance.

 

XRP/USD 60-minute chart

  • The price is being supported near-term by an almost horizontal trend line, which is gradually being tested by the bears, subject to a breach.  

XRP/USD daily chart

  • Candlestick on the 24th December produced a long upper wick, quick reversal of initial upside, demonstrates bearish qualities. 

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