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Ripple's XRP Technical Analysis: XRP/USD bull flag structure eyed despite daily losses

  • Ripple's XRP price on Thursday is trading in negative territory, nursing losses over 2%. 
  • XRP/USD daily chart view is moving within somewhat of a bullish flag structure, as the price cools. 
  • The $0.3000 remains under consistent daily threat by the bears, as they look to force the price down to the next major demand zone $0.2500. 
Ripple's XRP Technical Analysis: XRP/USD bull flag structure eyed despite daily losses
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.2986

Relative change:      -2.15%

High:                         0.3039

Low:                          0.2971

XRP/USD

Overview
Today last price0.2985
Today Daily Change-0.0028
Today Daily Change %-0.93
Today daily open0.3013
 
Trends
Daily SMA200.3083
Daily SMA500.3201
Daily SMA1000.3163
Daily SMA2000.3526
Levels
Previous Daily High0.3031
Previous Daily Low0.2965
Previous Weekly High0.3176
Previous Weekly Low0.2915
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.3006
Daily Fibonacci 61.8%0.299
Daily Pivot Point S10.2975
Daily Pivot Point S20.2937
Daily Pivot Point S30.2909
Daily Pivot Point R10.3041
Daily Pivot Point R20.3069
Daily Pivot Point R30.3108

XRP/USD 60-minute chart

  • Big price defending around the $0.3000-0.2850 region can be observed via the 60-minute. 

XRP/USD daily chart

  • Price action via the daily is moving within the confinements of a bullish flag structure. 

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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