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Ripple's XRP technical analysis: XRP/USD vulnerable to further downside risks

  • Ripple's XRP price is trading with the green by some 0.40% in the session on Wednesday. 
  • XRP/USD has bounced off critical daily support for now at $0.2700. 
  • The price is vulnerable to further downside risks following the ascending channel breach. 
Ripple's XRP technical analysis: XRP/USD vulnerable to further downside risks
Ken ChigboKen ChigboIndependent Analyst

XRP/USD weekly chart

Weekly price action is now being forced to narrow within a triangular structure or bearish pennant, subject to breach. 

XRP/USD daily chart

Should the price breach $0.2700 support, then a fast move down to $0.2500 could be observed. 

Spot rate:                 0.2727

Relative change:      +0.30%

High:                         0.2755

Low:                          0.2704

XRP/USD

Overview
Today last price0.2715
Today Daily Change-0.0007
Today Daily Change %-0.26
Today daily open0.2722
 
Trends
Daily SMA200.291
Daily SMA500.2769
Daily SMA1000.2763
Daily SMA2000.324
 
Levels
Previous Daily High0.2762
Previous Daily Low0.2674
Previous Weekly High0.3149
Previous Weekly Low0.2707
Previous Monthly High0.315
Previous Monthly Low0.2425
Daily Fibonacci 38.2%0.2707
Daily Fibonacci 61.8%0.2728
Daily Pivot Point S10.2676
Daily Pivot Point S20.2631
Daily Pivot Point S30.2588
Daily Pivot Point R10.2765
Daily Pivot Point R20.2808
Daily Pivot Point R30.2853

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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