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Ripple's XRP Technical Analysis: XRP/USD slips out from rising wedge, retest eyed

XRP was trading down over 4% in the latter part of Friday's session.
XRP/USD price broke out to the downside from a rising wedge pattern.
The weekend will be key was to whether XRP/USD can close up for the week in positive territory.

Ken Chigbo Independent Analyst

XRP/USD 4-hour chart

Spot rate: 0.3648

Relative change: -4.15%

High: 0.3830

Low: 0.3538

Trend: Bearish

Support 1: 0.3587, daily pivot point support.

Support 2: 0.3461, daily pivot point support.

Support 3: 0.3237, 25 November low.

Resistance 1: 0.3800, underneath breached wedge.

Resistance 2: 0.3938, daily pivot point resistance.

Resistance 3: 0.4065, daily pivot point resistance.

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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