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  • Ripple’s XRP price trading down some 0.70% in the second half of the session on Thursday.  
  • XRP/USD managed to close just outside of a triangular pattern via the daily. The bulls have an opportunity to drive the price higher given the escape.  

Spot rate:                  0.3141

Relative change:       -0.70%

High:                         0.3190

Low:                          0.3129

       Daily SMA20:  0.3165
       Daily SMA50:  0.3116
       Daily SMA100:  0.3265
       Daily SMA200:  0.3776
       Previous Daily High:  0.3268
       Previous Daily Low:  0.3087
       Previous Weekly High:  0.3236
       Previous Weekly Low:  0.3011
       Previous Monthly High:  0.3505
       Previous Monthly Low:  0.2879
       Daily Fibonacci 38.2%:  0.3199
       Daily Fibonacci 61.8%:  0.3156
       Daily Pivot Point S1:  0.3079
       Daily Pivot Point S2:  0.2993
       Daily Pivot Point S3:  0.2898
       Daily Pivot Point R1:  0.3259
       Daily Pivot Point R2:  0.3354
       Daily Pivot Point R3:  0.344

XRP/USD 60-minute chart

  • XRP/USD price action is moving within a descending wedge pattern formation, subject to potential breakout to the upside.    

XRP/USD daily chart

  • Price action on Wednesday managed to force a daily closure just above a triangular structure that had been containing upside.
  • Current daily candlestick is sitting just above the mentioned pattern, leaving  door  open to further potential upside.