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Ripple's XRP technical analysis: XRP/USD bullish pennant subject to a breakout

  • Ripple's XRP price is trading marginally in the red, minor losses of 0.60% in the second half of Monday. 
  • XRP/USD via the daily chart view is moving within a bullish pennant pattern formation. 
  • Bulls still remain locked in on moving back above the psychological $0.5000 price area. 
Ripple's XRP technical analysis: XRP/USD bullish pennant subject to a breakout
Ken ChigboKen ChigboIndependent Analyst

Spot rate:              0.4425

Relative change:  -0.60%

High:                      0.4646

Low:                       0.4285

XRP/USD 60-minute chart

  • Near-term ascending trend line providing needed comfort for the price, via the 60-minute. 

XRP/USD daily chart

  • Price action via the daily chart view is moving within a bullish pennant formation, subject to a breakout. 

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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