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Ripple's XRP technical analysis: XRP/USD bulls use breached pennant as a platform for further gains

  • Ripple's XRP price on Tuesday is trading in the green, holding gains of 2.00%.
  • XRP/USD price action is moving in consolidation mode, sitting just above a breakout pennant structure. 
  • Upside appears to be very much capped by resistance within the $0.2600 price territory. 
Ripple's XRP technical analysis: XRP/USD bulls use breached pennant as a platform for further gains
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.2542

Relative change:      -0.65%

High:                         0.2681

Low:                          0.2602

XRP/USD daily chart

  • XRP is sitting just above a breached bearish technical pennant, there is a lack of commitment for now. 

XRP/USD 60-minute chart

  • The price has extended out to the upside from a triangular structure formation. 

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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