XRP Price Analysis: XRP/USD near-term bearish flag at risk of sparking another drop

XRP price is trading in positive territory, with gains of some 1.70% on Wednesday.
XRP/USD price action is narrowing, subject to an explosive breakout.
The price remains within a critical range, upside barrier at $0.2000, support at $0.1800.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Price action over the last two weeks has offered nothing but a tight range, between $0.1800-0.2000.

XRP/USD 60-minute chart

Price action is moving within a bearish flag structure via the 60-minute chart view, at risk of another breakout south.

Spot rate: 0.1870

Relative change: +1.20%

High: 0.1864

Low: 0.1821

XRP/USD

Overview
Today last price	0.1858
Today Daily Change	0.0022
Today Daily Change %	1.20
Today daily open	0.1836

Trends
Daily SMA20	0.1882
Daily SMA50	0.1829
Daily SMA100	0.2199
Daily SMA200	0.2316

Levels
Previous Daily High	0.1867
Previous Daily Low	0.1814
Previous Weekly High	0.1962
Previous Weekly Low	0.1741
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.1847
Daily Fibonacci 61.8%	0.1834
Daily Pivot Point S1	0.1811
Daily Pivot Point S2	0.1786
Daily Pivot Point S3	0.1758
Daily Pivot Point R1	0.1864
Daily Pivot Point R2	0.1892
Daily Pivot Point R3	0.1917

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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XRP Price Analysis: XRP/USD near-term bearish flag at risk of sparking another drop