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Ripple's XRP technical analysis: XRP/USD bulls attempting retest of breached channel formation

  • Ripple's XRP price is holding decent gains late on Friday of some 5% in the session.
  • XRP/USD bulls trying to retest a breached channel formation seen via the daily,.
  • heavy resistance can be seen at the $0.3500-0.4000 price range. 
Ripple's XRP technical analysis: XRP/USD bulls attempting retest of breached channel formation
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3472

Relative change:      +5.54%

High:                         0.3503

Low:                          0.3197

XRP/USD

Overview
Today last price0.3433
Today Daily Change0.0145
Today Daily Change %4.41
Today daily open0.3288
 
Trends
Daily SMA200.4122
Daily SMA500.4148
Daily SMA1000.3754
Daily SMA2000.35
Levels
Previous Daily High0.3626
Previous Daily Low0.3179
Previous Weekly High0.4277
Previous Weekly Low0.3741
Previous Monthly High0.5074
Previous Monthly Low0.3704
Daily Fibonacci 38.2%0.335
Daily Fibonacci 61.8%0.3455
Daily Pivot Point S10.3102
Daily Pivot Point S20.2917
Daily Pivot Point S30.2656
Daily Pivot Point R10.3549
Daily Pivot Point R20.3811
Daily Pivot Point R30.3996

XRP/USD 15-minute chart

  • Near-term price action smashing out from a bullish flag structure.

XRP/USD daily chart

  • There is much supply running from $0.3500 back up the $0.4000 mark.

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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