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Ripple's XRP Technical Analysis: XRP/USD bulls break above the critical near-term descending trend line of resistance

Ripple's XRP price on Monday is trading up with very minor gains of just over 1% in the second part of the session.
XRP/USD price action via the daily chart view is moving within a narrowing range-block formation.
The price slipped back into the mundane trading range of 2019 after bulls failed to maintain upside momentum.

Ken Chigbo Independent Analyst

Spot rate: 0.3265

Relative change: +1.30%

High: 0.3295

Low: 0.3196

XRP/USD 15-minute chart

Price action has narrowed greatly, after an initial bout of upside buying pressure earlier in the session.

XRP/USD 60-minute chart

Price did manage to break above a descending trend line, after a sharp push north, before easing.

XRP/USD daily chart

XRP/USD is moving within a narrowing range-block formation, eyes on an imminent breakout.

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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