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  • Ripple price is one of the underperformers on Wednesday, down over 3.5% in the session.
  • XRP/USD has formed a bearish pennant on the 30-minute chart view, indicating the supporting trend line could be on its final legs.
  • Price action is very much narrow in the first half of this session, upper resistance at $0.5325 with support at $0.5280.

 

XRP/USD 30-minute chart

Spot rate:                                     0.52958

Relative change:               -3.57%

High:                                                     0.55061

Low:                                                       0.55240

 

Trend:                                                   Bearish

 

 

Support 1:                                  0.52800, ascending trend line.

Support 2:                                    0.52240, today’s (Wednesday) low.

Support 3:                                    0.51602, (support on 30-minute chart).

Resistance 1:                           0.53250, upper trend line of pennant pattern.

Resistance 2:                          0.53650, 100MA.

Resistance 3:                           0.53885, 38.2% Fibonacci & 50MA.