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XRP Price Analysis: XRP/USD is rocketing higher following pennant breakout

  • XRP price is trading in positive territory, with gains of some 5.50% on Wednesday.
  • XRP/USD bulls are taking further strides to the north after breaking out of a narrow range. 
  • The next major target area for the bulls will be the psychological $0.3000 mark. 
XRP Price Analysis: XRP/USD is rocketing higher following pennant breakout
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

The price had been consolidating for six sessions and the bulls have managed to make a solid push outside of that, inviting further buying pressure. 

XRP/USD 60-minute chart 

Important hourly support should be noted at the $0.2950 price mark. 

Spot rate:                  0.2975

Relative change:       +5.50%

High:                          0.3029

Low:                           0.2816

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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