Ripple XRP Price Analysis: XRP forms a bearish head and shoulders pattern
|- XRP trades 1.4% higher lagging behind some of the other major coins.
- There is now a bearish head and shoulders pattern to look out for.
XRP/USD 4-hour chart
Ripple has pushed higher on Monday but overall looks bearish. The 4-hour chart below shows quite a large head and shoulders pattern but the neckline is quite far away from the current price level.
A break of 0.1800 will be a confirmation signal that the price is heading lower but the psychological level has held firm a few times in the past. Crucially, the price is trading below the 200 Simple Moving Average and the Relative Strength Index indicator has moved below the 50 mid-line. Lastly, the volume is still looking thin and it would be good to see a pick up in interest.
 (2)-637260316675662056.png){kind=link}
Additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.