Ripple’s XRP Technical Analysis: XRP/USD must regather momentum in $0.2400-0.2200 zone

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  • VRipple’s XRP price is trading in the green by some 4.60% in the session on Wednesday.
  • XRP/USD bullish momentum is cooling following a strong gain on Tuesday, further moves north still eyed.
  • A retest of a critical prior acting supply area is underway, $0.2400-0.2200, watched for potential demand. 

XRP/USD weekly chart

The bulls are making good progress for a critical break and closure above a weekly supply area, $0.2200-0.2400. 

XRP/USD daily chart

A break and retest of the noted supply area could provide a platform for XRP/USD to move back into the $0.3000 territory. 


 

Spot rate:                  0.2395

Relative change:      +2.25%

High:                          0.2427

Low:                           0.2259

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