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Ripple's XRP Technical Analysis: XRP/USD make promising breakout of a bearish pattern

  • Ripple's XRP price is trading in the red by some 1.90% in the session on Monday.
  • XRP/USD price has demonstrated some signs of stabilization, as it runs with four consecutive sessions of gains. 
  • There is a big barrier in the way of further upside seen at the psychological $0.2000 mark. 
Ripple's XRP Technical Analysis: XRP/USD make promising breakout of a bearish pattern
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

Price action via the daily chart view is moving within a bearish pennant pattern, subject to a breakout south.

XRP/USD 60-minute chart

The price formed a near-term double top pattern, which has seen a break of the neckline and another wave of selling pressure. 


 

. 

Spot rate:                 0.1875 

Relative change:      -1.90%

High:                         0.1978

Low:                          0.1928

XRP/USD

Overview
Today last price0.1939
Today Daily Change-0.0029
Today Daily Change %-1.47
Today daily open0.1968
 
Trends
Daily SMA200.2008
Daily SMA500.2246
Daily SMA1000.2513
Daily SMA2000.2896
 
Levels
Previous Daily High0.1985
Previous Daily Low0.191
Previous Weekly High0.1991
Previous Weekly Low0.1846
Previous Monthly High0.3149
Previous Monthly Low0.2015
Daily Fibonacci 38.2%0.1956
Daily Fibonacci 61.8%0.1938
Daily Pivot Point S10.1924
Daily Pivot Point S20.1879
Daily Pivot Point S30.1848
Daily Pivot Point R10.1999
Daily Pivot Point R20.203
Daily Pivot Point R30.2075

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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