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Ripple's XRP technical analysis: XRP/USD smashed by the bears, only $0.3000 can potentially save total bloodshed now

  • Ripple's XRP price on Thursday is trading deeply in the red by some 7.10% in the second half of the day.
  • A fresh wave of selling pressure really kicked in after the bears manage to breakdown $0.4000 earlier in the week. 
  • Via the daily chart view, a critical ascending trend line was breached by the bears, inviting another wave of selling pressure. 

Spot rate:                 0.3346

Relative change:      -7.10%

High:                        0.3625

Low:                         0.3179

XRP/USD

Overview
Today last price0.335
Today Daily Change-0.0258
Today Daily Change %-7.15
Today daily open0.3608
 
Trends
Daily SMA200.4316
Daily SMA500.417
Daily SMA1000.3683
Daily SMA2000.3473
Levels
Previous Daily High0.3972
Previous Daily Low0.3457
Previous Weekly High0.4277
Previous Weekly Low0.3741
Previous Monthly High0.5074
Previous Monthly Low0.3704
Daily Fibonacci 38.2%0.3654
Daily Fibonacci 61.8%0.3775
Daily Pivot Point S10.3386
Daily Pivot Point S20.3164
Daily Pivot Point S30.2871
Daily Pivot Point R10.3901
Daily Pivot Point R20.4194
Daily Pivot Point R30.4416

XRP/USD 60-minute chart

  • Bearish pennant was breached via the 60-minute chart, another bearish flag can be seen. 

XRP/USD daily chart

  • The critical daily trend line was breached earlier in the week, opening the door to a fresh wave of selling pressure. 

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.

More from Ken Chigbo
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