Ripple's XRP Technical Analysis: XRP/USD is testing critical support area


  • Ripple's price on Friday is trading up in marginal positive territory, holding minor gains of just some 0.40%. 
  • XRP/USD moving within a range-block formation, as seen across the market with some of its peers. 

XRP/USD 15-minute chart

  • As can be clearly highlighted on the 15-minute view, an ascending channel formation. When viewed on via the 60-minute chart, looks to be a bearish flag. 

 

 

Spot rate:                  0.3905

Relative change:      +0.38%

High:                         0.3403

Low:                          0.3281

 

Trend:                        Bearish 

 

Support 1:                  0.3064, daily pivot point support.

Support 2:                  0.2803, daily pivot point support.

Support 3:                  0.2382, daily pivot point support.

Resistance 1:             0.3746, daily pivot point resistance.

Resistance 2:             0.4167, daily pivot point resistance.

Resistance 3:             0.4428, daily pivot point resistance.

 

XRP/USD 60-minute chart

  • XRP/USD appears to have shaped up a bearish flag pattern formation, subject to an extended break lower.

XRP/USD daily chart

  • Price action is testing the lower part of a critical daily range-block formation. 

 

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