Home Ripple’s XRP Price Analysis: XRP/USD subject to breakout of a bearish wedge
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Ripple’s XRP Price Analysis: XRP/USD subject to breakout of a bearish wedge

FX Street
Published date:
  • Ripple’s XRP price is trading in minor negative territory, nursing loses of 0.80% on Wednesday.
  • XRP/USD price action is moving within a range block formation via the daily chart view.
  • The price is moving within a range high up at $0.2400 down to a low of $0.2300. 

 

XRP/USD daily chart

Given the large narrowing in price action, a breakout could very well be explosive for XRP/USD. The price is moving within an ascending wedge structure, subject to a breach. 

XRP/USD 60-minute chart 

Price action is moving within a near-term bearish flag structure, at risk of a breakout to the downside. 

 

Spot rate:                  0.2368 

Relative change:      -0.80%

High:                          0.2394

Low:                           0.2321

 

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