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Ripple's XRP Technical Analysis: XRP/USD troubling triangular structure

  • Ripple's XRP price in the second part of the session on Thursday is trading in minor negative territory, down 0.30%. 
  • XRP/USD price action is daily narrowing triangular structure, subject to a breakout. It will likely be trend-defining, once a breach is seen. 
  • The big psychological $0.3000 remains at large risk to a firm breach to the downside. 
Ripple's XRP Technical Analysis: XRP/USD troubling triangular structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3039

Relative change:     -0.30%

High:                        0.3089

Low:                         0.3037

XRP/USD

Overview
Today last price0.3039
Today Daily Change-0.0023
Today Daily Change %-0.75
Today daily open0.3062
 
Trends
Daily SMA200.3168
Daily SMA500.322
Daily SMA1000.3168
Daily SMA2000.3578
Levels
Previous Daily High0.316
Previous Daily Low0.3042
Previous Weekly High0.333
Previous Weekly Low0.2827
Previous Monthly High0.3803
Previous Monthly Low0.2827
Daily Fibonacci 38.2%0.3087
Daily Fibonacci 61.8%0.3115
Daily Pivot Point S10.3016
Daily Pivot Point S20.297
Daily Pivot Point S30.2898
Daily Pivot Point R10.3134
Daily Pivot Point R20.3206
Daily Pivot Point R30.3252

XRP/USD 60-minute chart

  • Near-term ascending channel structure eyed via the 60-minute, which remains vulnerable to downside risks. 

XRP/USD daily chart

  • Price action is narrowing greatly within a triangular structure, subject to a near-term breakout. 

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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