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Ripple's XRP Technical Analysis: XRP/USD range breakout, here come the bulls

  • Ripple's XRP price in the second half of Tuesday has taken a jump firmly into positive territory, with gains locked in of over 4%. 
  • XRP/USD bulls force a breakout from a narrowing five-day range, attempts of recovery after a recent beating. 
  • Heavy supply will be observed from the $0.3400-0.3500 price range, where some problems may be seen again for the bulls. 
Ripple's XRP Technical Analysis: XRP/USD range breakout, here come the bulls
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3100

Relative change:     -0.95%

High:                        0.3166

Low:                         0.2963

XRP/USD

Overview
Today last price0.3105
Today Daily Change0.0133
Today Daily Change %4.48
Today daily open0.2972
 
Trends
Daily SMA200.32
Daily SMA500.322
Daily SMA1000.317
Daily SMA2000.3587
Levels
Previous Daily High0.3028
Previous Daily Low0.2915
Previous Weekly High0.333
Previous Weekly Low0.2827
Previous Monthly High0.3276
Previous Monthly Low0.287
Daily Fibonacci 38.2%0.2959
Daily Fibonacci 61.8%0.2985
Daily Pivot Point S10.2915
Daily Pivot Point S20.2859
Daily Pivot Point S30.2803
Daily Pivot Point R10.3028
Daily Pivot Point R20.3084
Daily Pivot Point R30.3141

XRP/USD 60-minute chart

  • Price makes an escape from the narrowing range, $0.3075 down to $0.2850. XRP has been moving within this since 25th April.\

XRP/USD daily chart

  • XRP/USD bulls looking to smash out with a daily closure out from the recent five days narrowing range. 

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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