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Ripple's XRP Technical Analysis: XRP/USD is in further trouble under $0.30

  • Ripple's XRP price on Friday is trading back in negative territory, down around 1.5%.
  • XRP/USD bears smashed through $0.3000 in the back-end of Thursday's session. 

XRP/USD 15-minute chart


 

Spot rate:                  0.2996

Relative change:      -1.47%

High:                         0.3009

Low:                          0.2939

Trend:                        Bearish

Support 1:                  0.2943, daily pivot point support.

Support 2:                  0.2885, daily pivot point support.

Support 3:                  0.2812, daily pivot point support.

Resistance 1:             0.3074, daily pivot point resistance.

Resistance 2:             0.3146, daily pivot point resistance.

Resistance 3:             0.3204, daily pivot point resistance.

XRP/USD 60-minute chart

  • Price action moving within a horizontal wedge pattern as seen via the 60-minute chart view, subject to a breakout south.

XRP/USD

  • Vulnerabilities point to the downside, as price looks to be shaping up within a bearish pennant, as mentioned above via 60-minute view within the wedge. 

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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