Ripple's XRP Technical Analysis: XRP/USD dangerous price behavior

  • Ripple's XRP price on Wednesday is seen nursing losses of over 1% through the mid-point of the day. 
  • XRP/USD price action has formed a bearish flag pattern, which XRP continues to move within. 
  • At the time of writing it can be seen that the price is flirting with the lower support of the flag/channel.

 

XRP/USD 4-hour chart


 

 

Spot rate:                  0.3482

Relative change:      -1.15%

High:                         0.3523

Low:                          0.3430

 

Trend:                        Bearish

 

Support 1:                  0.3430, lower part of flag/channel.

Support 2:                  0.3385, daily pivot point support.

Support 3:                  0.3251, daily pivot point support.

Resistance 1:             0.3644, daily pivot point resistance.

Resistance 2:             0.3768, daily pivot point resistance.

Resistance 3:             0.3902, daily pivot point resistance.

 

 

 

 

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