- Ripple price was licking it wounds on Friday, down over 2.5% in the session, after the bullish trend lost stability.
- XRP/USD price action has been narrowing since Wednesday, within a pennant formation, a breakout is now eyed.
- There has been a lack commitment with trend, since the heavy bull run seen last week.
XRP/USD 60-minute chart
Spot rate: 0.52980
Relative change: -2.62%
High: 0.55114
Low: 0.51227
Trend: Bearish
Support 1: 0.52000, lower part of pennant pattern.
Support 2: 0.51250, 100MA (60-minute).
Support 3: 0.50000, psychological level & demand zone.
Resistance 1: 0.53200, 50MA (60-minute)
Resistance 2: 0.54090, upper part of pennant.
Resistance 3: 0.55100, resistance on 60-minute chart.