Ripple's XRP technical analysis: XRP/USD critical bottom subject to test from bears, $0.2400 - 0.2300

Ripple's XRP price is trading up with minor losses of some -0.80% in the session on Wednesday.
XRP/USD price is heading back for a retest of a breached pennant structure.
Critical demand zone should be noted at the range of $0.2400-0.2300, where the price bottomed between 25-29 September.

Ken Chigbo Independent Analyst

XRP/USD daily chart

The price is heading back towards a retest of a breached pennant structure, failure to hold could be punishing.

XRP/USD 60-minute chart

A lower ascending trend line can be seen not far below as support, tracking at $0.2400.

Spot rate: 0.2463

Relative change: -1.40%

High: 0.2495

Low: 0.2451

XRP/USD

Overview
Today last price	0.2465
Today Daily Change	-0.0020
Today Daily Change %	-0.80
Today daily open	0.2485

Trends
Daily SMA20	0.264
Daily SMA50	0.2648
Daily SMA100	0.306
Daily SMA200	0.3325

Levels
Previous Daily High	0.2615
Previous Daily Low	0.2454
Previous Weekly High	0.2899
Previous Weekly Low	0.2168
Previous Monthly High	0.327
Previous Monthly Low	0.2168
Daily Fibonacci 38.2%	0.2516
Daily Fibonacci 61.8%	0.2554
Daily Pivot Point S1	0.2421
Daily Pivot Point S2	0.2357
Daily Pivot Point S3	0.226
Daily Pivot Point R1	0.2582
Daily Pivot Point R2	0.2679
Daily Pivot Point R3	0.2743

Author

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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Ripple's XRP technical analysis: XRP/USD critical bottom subject to test from bears, $0.2400 - 0.2300