Ken Chigbo
Independent Analyst
- Ripple's XRP price is trading in the red, nursing losses of around 1.9% in the second half of Tuesday.
- XRP/USD moving within the confinements of a narrowing triangular structure, as the upper acting trend line holds firm for now.
- The next major barrier is seen just ahead at $0.5000, should the bulls breakdown $0.4600-0.4800 region.
Spot rate: 0.4261
Relative change: -1.90%
High: 0.4403
Low: 0.4175
XRP/USD 60-minute chart
- Price action is consolidating as seen via the 60-minute chart view, after a breakout from a near-term bullish pennant pattern.
XRP/USD daily chart
- Bulls are taking a break for now consolidating, following a strong push higher over the past five sessions.
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