Home Ripple’s XRP technical analysis: XRP/USD $0.2000 remains vulnerable given price behaviour
Crypto News

Ripple’s XRP technical analysis: XRP/USD $0.2000 remains vulnerable given price behaviour

FX Street
Updated:
  • Ripple’s XRP price on Friday is trading in the red, down some 0.50%.  
  • XRP/USD price action is moving within consolidation mode, having formed another bearish pennant structure. Price the appears vulnerable to downside risks.
  • Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure.
  • Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.

Spot rate:                 0.2553

Relative change:       -0.50%

High:                         0.2573

Low:                           0.2527

XRP/USD daily chart

  • Price action moving within a bearish pennant structure, conditions a very narrow, with a potential breakout nearing.

XRP/USD 60-minute chart

  • The price is stuck within a mundane range, to a high of $0.2600, a low of $0.2500.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024