Ripple's XRP Technical Analysis: XRP/USD is flying but keeps slowing down close to $0.40
- Ripple's XRP is trading up with chunky gains over 9% on Thursday.
- Bullish momentum continuing this week, however bulls keep slowing down in the approach to the big area of $0.4000.
XRP/USD 15-minute chart
Spot rate: 0.3864
Relative change: +9.40%
High: 0.3955
Low: 0.3480
Trend: Bullish
Resistance 1: 0.3855, daily pivot point resistance.
Resistance 2: 0.4178, daily pivot point resistance.
Resistance 3: 0.4363, daily pivot point resistance.
Support 1: 0.3347, daily pivot point support.
Support 2: 0.3162, daily pivot point support.
Support 3: 0.2839, daily pivot point support.
XRP/USD 60-minute chart
- Risk of a potential double top formation if the shown supply area is not broken down by the bulls.
XRP/USD 4-hour chart
- The 4-hour view demonstrates just exactly how strong of an area the $0.40 territory is.
Author
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.
