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Ripple's XRP technical analysis: XRP/USD bullish pennant structure remains intact and subject to breakout

  • Ripple's XRP is holding very minor gains on Wednesday, holding gains of around 0.55%.
  • XRP/USD price hit with another rejection in chunky supply region, $0.4500-0.4800 range. 
  • Via the daily chart view, price action continues to move within a bullish penannt structure. 
Ripple's XRP technical analysis: XRP/USD bullish pennant structure remains intact and subject to breakout
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.4298

Relative change:      +0.55%

High:                         0.4366

Low:                          0.4246

XRP/USD 60-minute chart

  • The price via the 60-minute chart view has broken out to the upside from a bullish flag pattern. 

XRP/USD daily chart

  • Heavy supply holds firm from $0.4500-0.4800 range, bulls remain capped. 

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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