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Ripple's XRP technical analysis: XRP/USD there is bullish hope despite losses

  • Ripple's XRP price on Tuesday is trading in the red by over 3%, in the second part of the session.
  • XRP/USD still has an opportunity for upside, should the bulls capitalise on the pennant structure seen via the daily. 
  • The cryptocurrency market wide continues to move within consolidation mode, after a high volatile May and early June. 
Ripple's XRP technical analysis: XRP/USD there is bullish hope despite losses
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 7818.50

Relative change:      -2.55%

High:                        0.4037

Low:                         0.3859

XRP/USD 60-minute chart

  • XRP/USD price action has broken out to the downside from a rising wedge structure. 

XRP/USD daily chart

  • Price action via the daily chart view is moving within the confinements of a bullish pennant pattern. 

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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