TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Ripple's XRP technical analysis: XRP/USD nearing breakout from bearish pennant

  • Ripple's XRP price on Tuesday is trading in the red, down some 0.80%. 
  • XRP/USD price action remains in consolidation mode, moving within a bearish pennant structure. Price the appears vulnerable to downside risks.
  • Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure.
  • Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.
Ripple's XRP technical analysis: XRP/USD nearing breakout from bearish pennant
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.2595

Relative change:      -0.90%

High:                         0.2623

Low:                          0.2584

XRP/USD daily chart

  • Price action moving within a bearish pennant structure, conditions are very narrow, with a potential breakout nearing.

XRP/USD 60-minute chart

  • XRP/USD continues to flirt with the big heavily defended $0.2500 price mark. The price is also moving within a narrow range-block formation.  

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.

More from Ken Chigbo
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.