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  • Ripple’s XRP is seen holding gains of around 0.70% in the latter part of Thursday.
  • XRP/USD price action is still stuck within a descending wedge pattern formation, seen via the daily chart.

 

Ripple’s XRP was trading up with minor gains in the latter part of Thursday, in positive territory by just some 0.70%. XRP/USD price action has been moving within, the confinements of a descending wedge pattern.

The above-mentioned pattern formation has been in play since the back-end of December 2018, edging lower within this. Narrowing in the price action can also be noted, which would suggest a breakout could be seen very soon.

In terms of big barriers to note via the confluence detector; $0.3054, weekly 38.2% Fibonacci and daily pivot point support, $0.3085, monthly 23.6% Fibonacci and daily pivot point support. To the downside; $0.2903, daily 23.6% Fibonacci and finally $0.2842, previous week and month low.

XRP/USD daily confluence detector