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Ripple's XRP technical analysis: XRP/USD bulls flirting with $0.4000, penannt breakout eyed

  • Ripple's XRP price is trading with decent gains of around 3.50% in the second half of the session on Monday. 
  • XRP/USD bulls have been flirting with and trying to regain the psychological $0.4000 mark. 
  • Price action via the daily is moving within a bullish pennant pattern structure. 
Ripple's XRP technical analysis: XRP/USD bulls flirting with $0.4000, penannt breakout eyed
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3999

Relative change:      +3.55%

High:                        0.4027

Low:                         0.3803

XRP/USD 15-minute chart

  • The bulls can be seen battling it out with the psychological $0.4000, buying pressure remains to the near-term view. A bullish flag structure can be observed via the 15-minute. 

XRP/USD daily chart

  • Price action via the daily is moving within the confinements of a bullish pennant structure. 

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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