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.

Ken Chigbo Independent 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

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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XRP/USD weekly chart

XRP/USD daily chart

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