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Ripple's XRP technical analysis: XRP/USD bulls measuring up another potential shot into orbit

  • Ripple's XRP price Monday is trading in minor positive territory up some 0.55% in the second part of the day. 
  • XRP/USD is currently running at its fifth consecutive session in the green, after losing large bullish momentum between 16-22 May. 
  • Price action via the daily chart view has formed a bullish pennant pattern structure. 
Ripple's XRP technical analysis: XRP/USD bulls measuring up another potential shot into orbit
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.4114

Relative change:      +0.55%

High:                         0.4203

Low:                          0.4069

XRP/USD 60-minute chart

  • Near-term price action via the 60-minute chart view is narrowing within a range-block structure, subject to a potential breakout to the upside. 

XRP/USD daily chart

  • Price action has formed a bullish pennant pattern, which has seen the current daily candle edge out from the 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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