Ripple’s XRP Technical Analysis: XRP/USD bulls capitalize after scaping triangle structure of losses

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  • Ripple’s XRP Monday is trading with gains of some 3% in the second half of the day, as life is kicked back into the bulls. 
  • XRP/USD managed to escape a narrowing triangular structure, which had been containing the bulls. 
  • There is still much resistance ahead throughout the $0.3000 price region, many hurdles in the way of greater upside. 

 

Spot rate:                  0.3236

Relative change:      +3.40%

High:                         0.3282

Low:                          0.3080

 

XRP/USD 60-minute chart

  • Price action via the 60-minute is looking for an escape from the near-term triangular structure, after a brief period of consolidation. 

XRP/USD daily chart

  • Bulls smash out to the upside from a narrowing triangular structure formation via the daily. 

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