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XRP Price Analysis: XRP/USD consolidating waiting for last potential bear attack

  • XRP price is trading in positive territory, with gains of some 0.5% on Tuesday.
  • XRP/USD conditions continue to remain narrow, nearing an explosive breakout. 
  • Given technical price behaviour, much is still stacked in the favour of the bears. 
XRP Price Analysis: XRP/USD consolidating waiting for last potential bear attack
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

Risks continue to persist given a bearish flag structure via the daily chart view. If broken then a much control could be given to the bears. 

XRP/USD 60-minute chart

Price action forms a narrowing range block structure, subject to breaking out and inviting a fresh wave of pressure. It could be viewable as a bullish flag structure via the 60-minute view. 

Spot rate:                   0.1725

Relative change:       +0.50%

High:                          0.1738

Low:                           0.1706

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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