Ripple Technical Analysis: XRP/USD breaks bearish pennant and retests, further move south is still eyed for now

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  • Ripple price nursing chunky losses of over 3% on Friday, continuing the bloodshed of a trading week. 
  • XRP/USD broke a bearish pennant pattern, retest has been seen, back on the move south.

 

 

XRP/USD 60-minute chart


 

Spot rate:                   0.33463

Relative change:       -2.60%

High:                          0.34600

Low:                           0.32992

Trend:                        Bearish
 

Support 1:                 0.33000, (support on 60-minute chart).

Support 2:                 0.32010, 8th August low. 

Support 3:                 0.29000, top area seen in August and October 2017.

Resistance 1:            0.33890, 50MA.

Resistance 2:            0.34150, underneath of broken pennant. 

Resistance 3:            0.34500, inside upper part of pennant. 

 

 

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