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Ripple's XRP Technical Analysis: XRP/USD remains at risk of big bear attack

  • Ripple's XRP Price on Tuesday is trading broadly flat, but nearing an explosive breakout. 
  • XRP/USD price action via the daily time frame is moving in a narrowing nature within a triangular structure. 
  • Given the persistent failure to sustain any upside momentum, it does appear the bears could very much look at capitalizing soon. 

Spot rate:                 0.3120

Relative change:      -0.03%

High:                         0.3131

Low:                          0.3075

Trends:
    Daily SMA20: 0.3179
    Daily SMA50: 0.3119
    Daily SMA100: 0.3277
    Daily SMA200: 0.3777
Levels:
    Previous Daily High: 0.316
    Previous Daily Low: 0.3091
    Previous Weekly High: 0.3236
    Previous Weekly Low: 0.3011
    Previous Monthly High: 0.3505
    Previous Monthly Low: 0.2879
    Daily Fibonacci 38.2%: 0.3118
    Daily Fibonacci 61.8%: 0.3134
    Daily Pivot Point S1: 0.3089
    Daily Pivot Point S2: 0.3055
    Daily Pivot Point S3: 0.3019
    Daily Pivot Point R1: 0.3158
    Daily Pivot Point R2: 0.3194
    Daily Pivot Point R3: 0.3227

  XRP/USD 60-minute chart

  • Price struggling to breakdown near-term supply area around $0.3130 region.

XRP/USD daily chart

  • Price remains within the confinements of a triangular pattern structure, nearing a 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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