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Ripple's XRP Technical Analysis: XRP/USD takes a huge leap higher, bulls must capitalize further

  • Ripple's XRP holding chunky gains of over 6% on Monday, thanks to a big boost across the market. 
  • XRP bulls forced a move back into the $0.3000 territory, highest level in 4 sessions. 

XRP/USD 15-minute chart


 

Spot rate:                  0.3063

Relative change:      +6.12%

High:                         0.3122

Low:                          0.2870

Trend:                        Bullish

Resistance 1:             0.3080, daily pivot point support.

Resistance 2:             0.3100-50, supply area and 12-13 high.

Resistance 3:             0.3207, 7 December high.

Support 1:                  0.2836, daily pivot point support.

Support 2:                  0.2783, daily pivot point support.

Support 3:                  0.2715, daily pivot point support.

XRP/USD 60-minute chart

  • Near-term supply area has slowed the bulls down, following the chunky surge higher on Monday.

XRP/USD daily chart

  • Price action continues to move within a range-block, bulls must break down $0.3150 for greater upside. 
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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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