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/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
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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