Ripple’s XRP technical analysis: XRP/USD bulls must breakout from bearish structure or will face a beating

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  • Ripple’s XRP price on Friday is trading in the green, up some 1%. 
  • XRP/USD price action remains in a narrowing range via the daily chart view.
  • There has been a lack of movement since 15th August, within a bearish pennant structure. 
  • Buyers are heavily trying the defend the $0.2500 mark, if this fails to hold, then eyes on $0.2000. 

 

Spot rate:                 0.2595

Relative change:      -0.40%

High:                         0.2589

Low:                          0.2554

 

XRP/USD daily chart

  • Price action remains narrow within a bearish pennant structure, it is vulnerable to a breach. 

XRP/USD 60-minute chart

  • XRP/USD continues to move within a range-block formation, as seen via the 60-minute chart view.   

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