Ken Chigbo
Independent Analyst
- XRP price up over 4% in the early part of Wednesday's session, set for strong recovery.
- XRP/USD managed to form a bottom over the past few sessions, selling running exhausted.
- The price was heavily oversold via the RSI, bulls eyeing opportunity for a strong recovery of losses.
XRP/USD daily chart
Spot rate: 0.3794
Relative change: +4.43%
High: 0.3868
Low: 0.3631
Trend: Bullish
Resistance 1: 0.3810, 11-12 November low area.
Resistance 2: 0.3910, daily pivot point resistance.
Resistance 3: 0.4082, daily pivot point resistance.
Support 1: 0.3457, daily pivot point support.
Support 2: 0.3286, daily pivot point support.
Support 3: 0.3145, daily pivot point support.
XRP/USD 60-minute chart
- Bulls must break down resistance within $0.38-0.39 terrtitory for greater upside.
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