Ripple's XRP technical analysis: XRP/USD bearish flag structure subject to a potential breakout
- Ripple's XRP price is trading up with minor losses of some -0.80% in the session on Thursday.
- XRP/USD price is moving within a bearish flag structure via the daily chart view.
- The price has recently produced a bottom area at $0.2450, as daily support.
XRP/USD daily chart
Should the bears capitalize on the bearish flag structure, eyes will be on a return down to $0.2000.
XRP/USD 60-minute chart
Price action is narrowing within a near-term triangular structure, support tracking at $0.2480, resistance noted at $0.2520.
Spot rate: 0.2463
Relative change: -1.40%
High: 0.2542
Low: 0.2465
Author
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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