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Ripple's XRP Technical Analysis: XRP/USD vital support being penetrated, set to be obliterated

  • Ripple's XRP price nursing losses in the session on Tuesday of some 1.55%. 
  • XRP/USD bears are penetrating vital near-term support within the $0.3000-0.2900.
  • A breach of the above-mentioned can expose a fall down to the pits of $0.25-0.20.
Ripple's XRP Technical Analysis: XRP/USD vital support being penetrated, set to be obliterated
Ken ChigboKen ChigboIndependent Analyst
XRP/USD 60-minute chart
 

Spot rate:                  0.2987

Relative change:      -1.35%

High:                         0.3119

Low:                          0.2969

Trend:                        Bearish

Support 1:                  0.2939, daily pivot support. 

Support 2:                  0.2856, daily pivot point support.

Support 3:                  0.2734, daily pivot point support.

Resistance 1:             0.3144, the upper part of the ascending channel.

Resistance 2:             0.3266, daily pivot point resistance.

Resistance 3:             0.3349, daily pivot point resistance.

XRP/USD daily chart

  • Via the daily, price action can be seen within this tight consolidation mode, subject to a breakout to the downside. 

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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