TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ripple's XRP Technical Analysis: XRP/USD bearish pennant breakout is eyed

  • Ripple's XRP price is trading in the green by some 0.90% in the session on Tuesday.
  • XRP/USD remains vulnerable as it trades underneath the psychological $0.2000. 
  • Price action is consolidating, subject to further downside pressure given current technical behaviour. 
Ripple's XRP Technical Analysis: XRP/USD bearish pennant breakout is eyed
Ken ChigboKen ChigboIndependent Analyst


XRP/USD weekly chart

Price action is running towards its third week in the red, following the critical weekly support breach at $0.2150.

XRP/USD daily chart

Price action via the daily chart view is moving within a bearish pennant pattern, subject to a breakout. 

Spot rate:                 0.1918   

Relative change:      +0.90%

High:                         0.1929

Low:                          0.1889

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.

More from Ken Chigbo
Share:

Editor's Picks

Ripple Price Forecast: XRP recovery dims as demand cools

Ripple Price Forecast: XRP recovery dims as demand cools

Ripple (XRP) maintains narrow range trading on Monday, with support at $1.10. The token's upside remains largely constrained, as major moving averages trend downward, aligning with low demand in both the institutional and retail markets.
Crypto Today: Bitcoin, Ethereum, XRP hold key support as US and Iran agree to halt strikes

Crypto Today: Bitcoin, Ethereum, XRP hold key support as US and Iran agree to halt strikes

Bitcoin (BTC) maintains a neutral-to-bullish outlook, trading above $65,000 on Monday. Ethereum (ETH) is approaching the key supply and inflection point $2,000, while Ripple (XRP) hovers slightly above $1.10, underscoring a marginal improvement in the broader cryptocurrency market sentiment.
Shiba Inu Price Forecast: The three factors driving SHIB's mystery rally

Shiba Inu Price Forecast: The three factors driving SHIB's mystery rally

Shiba Inu (SHIB) price is down 3% on Monday, reflecting a potential profit-driven pullback after rising over 25% over the last two days. The mystery rally in SHIB has outpaced the minor recovery seen in other meme coins, with data suggesting it is linked to supply burns, the Korean market demand, and ecosystem expansion.
Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin's options market has turned notably less defensive over the past month, unwinding the downside protection traders built up in June just as the Federal Reserve prepares to meet.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.