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.

Ken Chigbo Independent Analyst

Spot rate: 0.3039

Relative change: -0.30%

High: 0.3089

Low: 0.3037

XRP/USD

Overview
Today last price	0.3039
Today Daily Change	-0.0023
Today Daily Change %	-0.75
Today daily open	0.3062

Trends
Daily SMA20	0.3168
Daily SMA50	0.322
Daily SMA100	0.3168
Daily SMA200	0.3578

Levels
Previous Daily High	0.316
Previous Daily Low	0.3042
Previous Weekly High	0.333
Previous Weekly Low	0.2827
Previous Monthly High	0.3803
Previous Monthly Low	0.2827
Daily Fibonacci 38.2%	0.3087
Daily Fibonacci 61.8%	0.3115
Daily Pivot Point S1	0.3016
Daily Pivot Point S2	0.297
Daily Pivot Point S3	0.2898
Daily Pivot Point R1	0.3134
Daily Pivot Point R2	0.3206
Daily Pivot Point R3	0.3252

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

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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XRP/USD

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