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Ripple's XRP Technical Analysis: XRP/USD bears have breached flag structure

  • Ripple's XRP price on Tuesday is trading in the red, down with losses of 1.5%, after initially starting the session in the green.
  • XRP/USD bears have breached an ascending channel/bearish flag formation.
  • The price has broken out and retested the noted structure, which does currently sit in the bears' favour. 
Ripple's XRP Technical Analysis: XRP/USD bears have breached flag structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3015

Relative change:      -1.50%

High:                         0.3096

Low:                          0.3007

XRP/USD

Overview
Today last price0.3017
Today Daily Change-0.0038
Today Daily Change %-1.24
Today daily open0.3055
 
Trends
Daily SMA200.312
Daily SMA500.3208
Daily SMA1000.3163
Daily SMA2000.3542
Levels
Previous Daily High0.3107
Previous Daily Low0.2974
Previous Weekly High0.3176
Previous Weekly Low0.2915
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.3056
Daily Fibonacci 61.8%0.3025
Daily Pivot Point S10.2984
Daily Pivot Point S20.2912
Daily Pivot Point S30.285
Daily Pivot Point R10.3117
Daily Pivot Point R20.3179
Daily Pivot Point R30.325

XRP/USD 60-minute chart

  • Price heading for a retest of the big $0.3000 to the downside, key near-term 60-minute supports levels at $0.3000 and then $0.2975

XRP/USD daily chart

  • Price action via the daily has broken out and retested a bearish flag pattern formation.

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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