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Ripple's XRP technical analysis: XRP/USD big $0.3000 barrier

  • Ripple's XRP price is trading with the red by some 1.55% in the session on Friday. 
  • XRP/USD is struggling to push back above the $0.3000 price mark. 
  • Should the bulls break down 0.3000, it would likely open the door to a fresh wave of selling pressure.  
Ripple's XRP technical analysis: XRP/USD big $0.3000 barrier
Ken ChigboKen ChigboIndependent Analyst

XRP/USD weekly chart

The price is being capped by the chunky barrier at $0.3000, which appears to be the key to greater upside pressure.

XRP/USD daily chart

Should the bulls manage to force a daily breakout and retest of $0.3000, it may invite further buying momentum. 

Spot rate:                 0.2918

Relative change:      +0.45%

High:                         0.2926

Low:                          0.2897

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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