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Ripple's XRP Technical Analysis: XRP/USD bear flag formation eyed

  • Ripple's XRP price on Monday trading up with minor gains of 1.5% in the early part of the session. 
  • XRP/USD price action is moving within a bearish flag/ ascending channel formation. 

Spot rate:               0.3048

Relative change:    +1.50%

High:                       0.3054

Low:                        0.3003

Trend:                      Bullish

Trends:
    Daily SMA20: 0.3102
    Daily SMA50: 0.3189
    Daily SMA100: 0.3432
    Daily SMA200: 0.3776
Levels:
    Previous Daily High: 0.3473
    Previous Daily Low: 0.2983
    Previous Weekly High: 0.3505
    Previous Weekly Low: 0.2982
    Previous Monthly High: 0.3906
    Previous Monthly Low: 0.2833
    Daily Fibonacci 38.2%: 0.317
    Daily Fibonacci 61.8%: 0.3286
    Daily Pivot Point S1: 0.2834
    Daily Pivot Point S2: 0.2663
    Daily Pivot Point S3: 0.2343
    Daily Pivot Point R1: 0.3325
    Daily Pivot Point R2: 0.3644
    Daily Pivot Point R3: 0.3815

XRP/USD 60-minute chart

  • Possible near-term bearish pennant formation eyed via the 60-minute view. 

XRP/USD daily chart

  • Price moving within a bearish flag/ascending channel formation via the daily. 

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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