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Ripple's XRP technical analysis: XRP/USD price still moving within a bearish flag

  • Ripple's XRP price is trading with the green by some 0.15% in the session on Monday. 
  • XRP/USD continues to move within a bearish flag structure via the daily chart view. 
  • The big psychological $0.3000 continues to prove problematic for the market bulls. 
Ripple's XRP technical analysis: XRP/USD price still moving within a bearish flag
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

The price action via the daily chart view is respecting the bearish flag pattern at present, with the $0.3000 continuing to cap upside. 

XRP/USD 60-minute chart

Price action near-term is consolidating within a rising channel structure via the 60-minute.

Spot rate:                 0.2983

Relative change:      +0.15%

High:                         0.3058

Low:                          0.2943

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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