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Ripple's XRP technical analysis: XRP/USD bulls make huge progress breaking above $0.30, further upside eyed

  • Ripple's XRP price on Wednesday is trading in the green, holding gains of 6.80%.
  • XRP/USD price action has broken out to the upside from a narrowing range block formation. 
  • The bulls managed to reclaim to big pychological $0.3000 price mark, for the first time since 13 August. 
Ripple's XRP technical analysis: XRP/USD bulls make huge progress breaking above $0.30, further upside eyed
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.347

Relative change:      +6.80%

High:                         0.3127

Low:                          0.2856

XRP/USD daily chart

  • The price has escaped a narrowing range, which had contained the price since 15 August. 

XRP/USD 60-minute chart

  • Price action is moving within a bullish pennant, subject to a breakout north.  

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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