Ripple's XRP technical analysis: XRP/USD failed pennant retest would bring $0.2000 back into play


  • Ripple's XRP price is trading up with minor losses of some -1.40% in the session on Tuesday. 
  • XRP/USD price is heading back for a retest of a breached pennant structure. 
  • There is a sizeable barrier observed within the $0.2600 price area, preventing the bulls from further moves north. 

 

XRP/USD daily chart

The daily candle on Monday broke out from a bearish pennant pattern, the retest is at present in play. 

XRP/USD 60-minute chart

Price action is losing ground within the 0.2600 price territory, where heavy supply is noted. 

 

Spot rate:                 0.2560

Relative change:      -1.40%

High:                         0.2615

Low:                          0.2515

 

 

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