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Ripple's XRP Technical Analysis: XRP/USD  heavy protection round to clock for $0.3000, as bear threat lingers

  • Ripple's XRP price on Friday is trading with minor gains of just some 1% in the latter part of the session.
  • XRP/USD big defending still being observed around the $0.3000 area, buyers protecting this region. 
  • The bulls need to force a breakout of the narrowing range, $0.3000-0.3500 region. 
Ripple's XRP Technical Analysis: XRP/USD  heavy protection round to clock for $0.3000, as bear threat lingers
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.2988

Relative change:      +1.05%

High:                         0.3029

Low:                          0.2916

XRP/USD

Overview
Today last price0.2983
Today Daily Change0.0028
Today Daily Change %0.95
Today daily open0.2955
 
Trends
Daily SMA200.3064
Daily SMA500.3197
Daily SMA1000.3164
Daily SMA2000.3518
Levels
Previous Daily High0.3039
Previous Daily Low0.2931
Previous Weekly High0.3176
Previous Weekly Low0.2915
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.2973
Daily Fibonacci 61.8%0.2998
Daily Pivot Point S10.2911
Daily Pivot Point S20.2867
Daily Pivot Point S30.2803
Daily Pivot Point R10.3019
Daily Pivot Point R20.3083
Daily Pivot Point R30.3127

XRP/USD 60-minute chart

  • Price action has edged out from a near-term pennant structure seen via the 60-minute view. 

XRP/USD daily chart

  • The buyers continue to heavily defend the $0.3000 price region, preventing a free-fall. 

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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