Ripple's XRP Technical Analysis: XRP/USD reversal on the cards

Ripple's XRP price on Wednesday trading up with gains of some 1.45% in the second half of the session.
XRP/USD price action via the daily on Tuesday produced a reversal hammer candlestick.
60-minute chart view suggests of some vulnerabilities which could force a retest of $0.3000 to the downside.

Ken Chigbo Independent Analyst

Spot rate: 0.3061

Relative change: +1.45%

High: 0.3104

Low: 0.3003

Trend: Bullish

XRP/USD 60-minute chart

A big retest of key near-term demand zone seen via 60-minute around $0.3050, a failure to hold could trigger a chunky wave of selling pressure.

XRP/USD daily chart

Daily candlestick at the close on Tuesday produced somewhat of a reversal hammer.

Author

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.

Markets move fast. We move first.

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

Editor's Picks

Top 3 Price Predictions: Bitcoin and Ethereum aim for breakouts as Ripple holds at $2

Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds (ETFs).

Top Crypto Losers: Monero extends losses below $370 as Aster and Bonk risk record lows

Altcoins, including Monero (XMR), Aster (ASTER), and Bonk (BONK), are at risk of extending their losses as the broader cryptocurrency market stalls amid the dragging peace talks between Ukraine and Russia.

Bitcoin Weekly Forecast: BTC slips under $90K, no santa rally in sight

Bitcoin traders are counting on a year-end rally, awaiting a return above the $100,000 milestone. Bitcoin-based investment products are struggling with declining inflows and weaker institutional demand, relative to the beginning of the year.

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.

Legal Text

Markets move fast. We move first.

Editor's Picks