Home Ripple’s XRP technical analysis: XRP/USD failing to break $0.3000 proved to be punishing

Crypto News

Ripple’s XRP technical analysis: XRP/USD failing to break $0.3000 proved to be punishing

Published date: 7 Nov. 2019 | 15:17

Ripple’s XRP price is trading with the red by some 6.80% in the session on Thursday.
XRP/USD is breaking out of a rising ascending channel via the daily view.
The price failed to gather enough momentum to properly break down $0.3000.

XRP/USD daily chart

The bears are testing critical supporting trend line to the downside, subject to a potential fresh wave of selling pressure.

XRP/USD 15-minute chart

Near-term price action is moving within a bearish flag structure, subject to a breach.

Spot rate: 0.2894

Relative change: -6.80%

High: 0.3149

Low: 0.2748

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.