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Ripple's XRP Technical Analysis: XRP/USD bulls going for a retest of the broken wedge structure

  • Ripple's XRP price on Wednesday is trading every so marginally in the green, gains of 0.30%.
  • XRP/USD receives comfort from the reliable psychological $0.3000 price area, buyers continue to protect. 
  • Another retest appears to be underway of the breached ascending wedge/flag structure. 
Ripple's XRP Technical Analysis: XRP/USD bulls going for a retest of the broken wedge structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3023

Relative change:      -1.50%

High:                         0.3029

Low:                          0.2964

XRP/USD

Overview
Today last price0.3021
Today Daily Change0.0025
Today Daily Change %0.83
Today daily open0.2996
 
Trends
Daily SMA200.3101
Daily SMA500.3205
Daily SMA1000.3162
Daily SMA2000.3534
Levels
Previous Daily High0.3097
Previous Daily Low0.2986
Previous Weekly High0.3176
Previous Weekly Low0.2915
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.3028
Daily Fibonacci 61.8%0.3055
Daily Pivot Point S10.2956
Daily Pivot Point S20.2915
Daily Pivot Point S30.2845
Daily Pivot Point R10.3067
Daily Pivot Point R20.3137
Daily Pivot Point R30.3178

XRP/USD 60-minute chart

  • Price bounces off the key near-term ascending trend line, but there is still much in the way of resistance through the $0.3000 region. 

XRP/USD daily chart

  • Price managed to catch some support once again around big demand zone, just under the psychological $0.3000 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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