Ripple's XRP technical analysis: XRP/USD can not deal with stubborn $0.4000 sellers

  • Ripple's XRP price is trading marginally in the red, down around 1% in the second half of the session on Friday.
  • XRP/USD via the daily chart view despite the minor losses, sees a bullish technical set up, pennant structure subject to a breakout. 
  • The price has struggled to retain the $0.4000 price territory this week, as heavy sellers remain camped in the area. 


Spot rate:                 0.3961

Relative change:      -0.95%

High:                        0.4007

Low:                         0.3915


XRP/USD 60-minute chart

  • Price action via the 60-minute chart view has broken out to the downside from a rising wedge pattern formation. 


XRP/USD daily chart

  • XRP/USD daily price action is moving within a bullish pennant pattern formation, something which is seen with some of its peers also.  


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.