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Ripple's XRP technical analysis: XRP/USD extreme price narrowing suggests an imminent breakout

  • XRP price on Thursday is nursing losses of some 2.25%, as it continues to consolidate.  
  • XRP/USD price action via the daily chart view is narrowing, seen over the last six sessions. 
  • The daily still shows price action moving within a bullish flag structure. 
Ripple's XRP technical analysis: XRP/USD extreme price narrowing suggests an imminent breakout
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3957

Relative change:      -2.25%

High:                         0.4062

Low:                          0.3913

XRP/USD 60-minute chart

  • Limited room for the price to move within the current structure, a breakout is eyed. 

XRP/USD daily chart

  • The price action via the daily chart view is moving within a narrowing nature.  

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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