Ripple’s XRP technical analysis: XRP/USD bounces off critical supporting trend line

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  • Ripple’s XRP price is trading in positive territory, gains seen of 2.5% in the latter part of the day. 
  • XRP/USD bears retested a breached bullish flag structure, finding support on top for the pattern.
  • The $0.4000 remains protected by decent buyers after the threat of breach during the hard selling on Thursday. 

Spot rate:                 0.4121

Relative change:      +2.40%

High:                        0.4171

Low:                         0.3978

XRP/USD 60-minute chart

  • Near-term bearish pennant structure eyed via the 60-minute chart view.

 

XRP/USD daily chart

  • Daily price action retests a breached pennant pattern formation, after the selling on Thursday. 

 

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