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  • 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.