XRP Price Forecast: XRP/USD working on eruption through $0.2000
- XRP price is trading in negative territory, with losses of some 2.20% on Thursday.
- XRP/USD is consolidating just below the big $0.2000 mark, capping upside for now.
- Narrowing trade conditions likely to lead to a decent range breakout.
XRP/USD daily chart
A breakdown of the noted $0.2000 could provide a fast pathway to a $0.2500 return.
XRP/USD 60-minute chart
Price action is forming a possible bullish pennant structure, subject to a breakout.
Spot rate: 0.1978
Relative change: -2.20%
High: 0.2023
Low: 0.1939
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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