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Ripple’s XRP technical analysis: XRP/USD lack of directional commitment creates vulnerabilities

FX Street
Updated:

 

  • Ripple’s XRP price on Wednesday is trading marginally in the red, down some 1.50%.  
  • XRP/USD price is yet to see any form of directional commitment, as it remains within the confinements of a bearish pennant.  
  • The price over the last three sessions has been cooling and further narrowing.  

 

Spot rate:                  0.2554

Relative change:       -1.50%

High:                         0.2609

Low:                           0.2524

XRP/USD daily chart

  • Price action is further narrowing via the daily chart view, within a bearish pennant pattern.

XRP/USD 60-minute chart

  • The price is moving within a horizontal channel structure, awaiting an incoming breakout.  

FX Street

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