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.

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