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Ripple's XRP technical analysis: XRP/USD bounces off critical supporting trend line

  • Ripple's XRP price is trading in positive territory, gains seen of 2.5% in the latter part of the day. 
  • XRP/USD bears retested a breached bullish flag structure, finding support on top for the pattern.
  • The $0.4000 remains protected by decent buyers after the threat of breach during the hard selling on Thursday. 
Ripple's XRP technical analysis: XRP/USD bounces off critical supporting trend line
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.4121

Relative change:      +2.40%

High:                        0.4171

Low:                         0.3978

XRP/USD

Overview
Today last price0.4144
Today Daily Change0.0096
Today Daily Change %2.37
Today daily open0.4048
 
Trends
Daily SMA200.4286
Daily SMA500.4085
Daily SMA1000.3643
Daily SMA2000.3452
Levels
Previous Daily High0.4656
Previous Daily Low0.3894
Previous Weekly High0.4628
Previous Weekly Low0.4082
Previous Monthly High0.4741
Previous Monthly Low0.2917
Daily Fibonacci 38.2%0.4185
Daily Fibonacci 61.8%0.4365
Daily Pivot Point S10.3743
Daily Pivot Point S20.3437
Daily Pivot Point S30.298
Daily Pivot Point R10.4505
Daily Pivot Point R20.4962
Daily Pivot Point R30.5268

XRP/USD 60-minute chart

  • Near-term bearish pennant structure eyed via the 60-minute chart view.

XRP/USD daily chart

  • Daily price action retests a breached pennant pattern formation, after the selling on Thursday. 

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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