Ripple’s XRP Technical Analysis: XRP/USD tug of war

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  • Ripple’s XRP was nursing losses of around 2.5% into the second half of the session on Friday. 
  • XRP/USD bulls are playing tug of war with bears, with the price moving in and out of the pennant pattern formation. 
  • The above-mentioned could see a drop down towards $0.30-0.25 should the bears win.

 

XRP/USD daily chart 


 
 

Spot rate:                  0.4783

Relative change:      -2.50%

High:                         0.4888

Low:                          0.4627

 

Trend:                       Bearish

 

Support 1:                 0.4445, daily pivot point support & demand zone.

Support 2:                 0.4047, daily pivot point support.

Support 3:                 0.3824, daily pivot point support.

Resistance 1:            0.4837, 50DMA.

Resistance 2:            0.5067, daily pivot point resistance.

Resistance 3:            0.5290, daily pivot point resistance.

 

XRP/USD 60-minute chart

  • As seen via the 60-minute chart view, price action is flirting in and around the lower trend line of the pennant pattern.



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