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Ripple's XRP technical analysis: XRP/USD consolidates outside bearish flag

  • Ripple's XRP price is trading with the red by some 0.45% in the session on Thursday. 
  • XRP/USD is moving above and below the big psychological $0.3000, 
  • The price has not comfortable traded within the $0.3000 region since mid-August. 
Ripple's XRP technical analysis: XRP/USD consolidates outside bearish flag
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

The price is consolidating underneath a breached flag structure, vulnerabilities are tilted to the downside. 

XRP/USD 60-minute chart

Price action is moving within a narrowing range-block formation, subject to a potential breakout. 

Spot rate:                 0.2940

Relative change:      -0.45%

High:                         0.2990

Low:                          0.2882

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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