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Ripple's XRP technical analysis: XRP/USD near-term price breakout from bullish pennant

  • Ripple's XRP on Wednesday is trading marginally in the green, gains of some 0.50%. 
  • XRP/USD near-term price action catches some bullish momentum, breaking out from pennant structure. 
  • Daily price action is stuck within a narrowing pennant structure.
Ripple's XRP technical analysis: XRP/USD near-term price breakout from bullish pennant
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3206

Relative change:      +0.50%

High:                         0.3235     

Low:                          0.3172

XRP/USD

Overview
Today last price0.3208
Today Daily Change0.0024
Today Daily Change %0.75
Today daily open0.3184
 
Trends
Daily SMA200.318
Daily SMA500.378
Daily SMA1000.3713
Daily SMA2000.3452
Levels
Previous Daily High0.3216
Previous Daily Low0.3063
Previous Weekly High0.3354
Previous Weekly Low0.3027
Previous Monthly High0.5074
Previous Monthly Low0.3704
Daily Fibonacci 38.2%0.3158
Daily Fibonacci 61.8%0.3121
Daily Pivot Point S10.3093
Daily Pivot Point S20.3001
Daily Pivot Point S30.2939
Daily Pivot Point R10.3246
Daily Pivot Point R20.3308
Daily Pivot Point R30.3399

XRP/USD 60-minute chart

  • Price action via the 60-minute chart view is smashing out from a bullish pennant structure. 

XRP/USD daily chart

  • A daily pennant structure continues to contain the price action, subject to an imminent breakout. 

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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