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Ripple's XRP technical analysis: XRP/USD vulnerabilities remain tilted to the downside below $0.3000

  • Ripple's XRP price in the second half of Tuesday is trading in the red, down some 2.05%. 
  • XRP/USD price action remains weighted to the downside, following the rejection within supply around $12,000 region. 
  • Price action via the daily chart view is constructing a potential inverse head and shoulders pattern.
Ripple's XRP technical analysis: XRP/USD vulnerabilities remain tilted to the downside below $0.3000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 

Relative change:      -1.30%

High:                        0.3010

Low:                         0.2949

XRP/USD daily chart

  • Price action remains very much vulnerable to further downside risk, following the bear escape of pennant structure.

XRP/USD 60-minute chart

  •  The price via 60-minute chart view is extending to the south, after a breach of a bearish flag structure.

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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