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Ripple's XRP technical analysis: XRP/USD failure to break back above $0.3000 could be punshing

  • Ripple's XRP price on Friday is trading in minor positive territory by 0.20%.
  • XRP/USD found decent comfort at the big $0.2500 mark, which has helped prevent free-fall. 
  • Eyes are on another retest of the pychological $0.3000 level, following the price last week. 
Ripple's XRP technical analysis: XRP/USD failure to break back above $0.3000 could be punshing
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.2729

Relative change:      +0.70%

High:                         0.2739

Low:                          0.2677

XRP/USD daily chart

  • The major challenge to the upside is seen at the $0.3000 mark, in proximity to the pennant structure.

XRP/USD 60-minute chart

  • XRP/USD is heading for a retest of breached ascending trend line seen via the 60-minute. 

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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