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  • Ripple’s XRP is seen down by  just  over 0.50% in the session on Wednesday, as markets remains somewhat mixed across the board.  
  • XRP/USD price action has formed a bearish  pennant  pattern as seen on the 60-minute chart view.  
  • Ripple’s chief marketing strategist in a recent  interview, on the point of securities, noted that XRP is clearly not a security.
  • It has been a number of months now, for market calls and pressures for the SEC to clarify their stance on XRP, if it should be classes as a security or not.  

 

XRP/USD 60-minute chart  


 

Spot rate:                   0.4432

Relative change:       -0.56%

High:                          0.4509

Low:                           0.4416

 

Trend:                        Bearish

 

Support 1:                  0.4413, lower part pennant pattern & daily pivot point support.

Support  2:                  0.4368, daily pivot point support.  

Support  3:                  0.4320, 29 October low & daily pivot point support.

Resistance 1:             0.4442, upper part of pennant & 50MA (4-hour).

Resistance 2:             0.4505, daily pivot point resistance & 30 October high.

Resistance 3:             0.4515, 100MA (4-hour).