Ripple's XRP technical analysis: XRP/USD bulls are lifeless with a position to capitalize to the north

Ripple's XRP price on Monday is trading marginally in the green, up some 0.20%.
XRP/USD price action is moving in consolidation mode, sitting just above a breakout pennant structure.
Upside appears to be very much capped by resistance within the $0.2600 price area.

Ken Chigbo Independent Analyst

Spot rate: 0.2542

Relative change: -0.65%

High: 0.2637

Low: 0.2605

XRP/USD

Overview
Today last price	0.2611
Today Daily Change	0.0004
Today Daily Change %	0.15
Today daily open	0.2607

Trends
Daily SMA20	0.2587
Daily SMA50	0.2793
Daily SMA100	0.3312
Daily SMA200	0.3365

Levels
Previous Daily High	0.2647
Previous Daily Low	0.2592
Previous Weekly High	0.2665
Previous Weekly Low	0.2511
Previous Monthly High	0.3308
Previous Monthly Low	0.2392
Daily Fibonacci 38.2%	0.2613
Daily Fibonacci 61.8%	0.2626
Daily Pivot Point S1	0.2584
Daily Pivot Point S2	0.256
Daily Pivot Point S3	0.2529
Daily Pivot Point R1	0.2639
Daily Pivot Point R2	0.267
Daily Pivot Point R3	0.2694

XRP/USD daily chart

XRP is sitting just above a breached bearish technical pennant, there is a lack of commitment for now.

XRP/USD 60-minute chart

The heavy near-term supply can be observed within the $0.2600 region, as sellers remain capped within region.

Author

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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