Ripple’s XRP technical analysis: XRP/USD bulls have the opportunity for explosive moves higher

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  • Ripple’s XRP price is trading marginally in the green, small gains of 0.55% in the second half of Wednesday. 
  • XRP/USD price action via the daily chart view is moving within a pennant pattern structure. 
  • At present, the psychological $0.4000 mark is capping upside potential. 

 

Spot rate:                 0.3953

Relative change:      +0.55%

High:                        0.3995

Low:                         0.3889

 

XRP/USD 60-minute chart

  • The 60-minute price action suggests a bearish flag formation or descending wedge. Contractionary of the long-time frame view. 

XRP/USD weekly chart

  • Price action is moving within a bullish pennant structure seen via the daily. 

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