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Ripple's XRP Technical Analysis: XRP/USD remains exposed as bears test a key supporting ascending trend line

  • Ripple's XRP price on Monday is trading in very minor positive territory, but the bears still appear to be in the waiting.
  • XRP/USD is testing a key supporting ascending channel formation, the price is very much reliant on this at present. 
  • The big psychological $0.3000 mark remains exposed, it is not clear from safety yet. 
Ripple's XRP Technical Analysis: XRP/USD remains exposed as bears test a key supporting ascending trend line
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3015

Relative change:      +0.15%

High:                         0.3038

Low:                          0.2974

XRP/USD

Overview
Today last price0.3017
Today Daily Change-0.0010
Today Daily Change %-0.33
Today daily open0.3027
 
Trends
Daily SMA200.313
Daily SMA500.3211
Daily SMA1000.3164
Daily SMA2000.3551
Levels
Previous Daily High0.3085
Previous Daily Low0.3024
Previous Weekly High0.3176
Previous Weekly Low0.2915
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.3048
Daily Fibonacci 61.8%0.3062
Daily Pivot Point S10.3006
Daily Pivot Point S20.2985
Daily Pivot Point S30.2945
Daily Pivot Point R10.3067
Daily Pivot Point R20.3106
Daily Pivot Point R30.3128

XRP/USD 60-minute chart

  • Price action is narrowing within a horizontal wedge pattern structure via the 60minute. 

XRP/USD daily chart

  •  XRP/USD is moving within a daily ascending channel structure, remaining vulnerable to downside risks.

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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