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Ripple's XRP Technical Analysis: XRP/USD explosive breakout is eyed

  • Ripple's XRP price is trading in the green by some 3.00% in the session on Friday.
  • XRP/USD price action has been extremely narrowing within a range block formation.
  • A near-term bout of upside momentum has been observed, however, capped at $0.2000. 
Ripple's XRP Technical Analysis: XRP/USD explosive breakout is eyed
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

Trading conditions are very tight, the range low at $0.1800, the high at $0.2000. 

XRP/USD 60-minute chart

Price action is moving within a near-term pennant structure, subject to a breakout north. 

Spot rate:                 0.1930 

Relative change:      +3.00%

High:                         0.1937

Low:                          0.1846

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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