XRP Price Analysis: XRP/USD now a fast $0.2500 return is eyed

XRP price is trading in positive territory, with gains of some 3.60% on Wednesday.
XRP/USD now has room for a fast return into $0.2500 following the $0.2000 reclaim.
Given the psychological $0.2000 breach, buyer confidence has very much been restored.

Ken Chigbo Independent Analyst

XRP/USD daily chart

The bulls enjoyed a chunky run to the upside on Tuesday, smashing above $0.2000, which has set the price up for greater moves north. Barrier now eyed at; $0.2500, $0.2800 and then $0.3000.

XRP/USD 60-minute chart

Price action via the 60-minute chart view is narrowing, having formed a bullish pennant structure, inviting further buying pressure.

Spot rate: 0.2223

Relative change: +3.60%

High: 0.2250

Low: 0.2128

XRP/USD

Overview
Today last price	0.2224
Today Daily Change	0.0078
Today Daily Change %	3.63
Today daily open	0.2146

Trends
Daily SMA20	0.1914
Daily SMA50	0.1783
Daily SMA100	0.2174
Daily SMA200	0.2292

Levels
Previous Daily High	0.2182
Previous Daily Low	0.1948
Previous Weekly High	0.1999
Previous Weekly Low	0.1784
Previous Monthly High	0.2468
Previous Monthly Low	0.1129
Daily Fibonacci 38.2%	0.2093
Daily Fibonacci 61.8%	0.2037
Daily Pivot Point S1	0.2002
Daily Pivot Point S2	0.1857
Daily Pivot Point S3	0.1767
Daily Pivot Point R1	0.2236
Daily Pivot Point R2	0.2326
Daily Pivot Point R3	0.2471

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/USD daily chart

XRP/USD 60-minute chart

XRP/USD

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