Ripple's XRP Price Analysis: XRP/USD bulls attempting big breakout of narrowing triangular structure
|- Ripple's XRP price is trading in the green by some 4.60% in the session on Tuesday.
- XRP/USD bulls regaining control following a brief retest of $0.2000 mark.
- Price action has been narrowing within a triangular structure, with next committed move eyed.
XRP/USD daily chart
The bulls are testing the upper acting resistance of a triangular structure, setting up for a potential breakout.
XRP/USD 60-minute chart
Near-term supply via the 60-minute observed at $0.2215-50 range, a break and closure above critical for further upside pressure.
Spot rate: 0.2200
Relative change: +4.80%
High: 0.2247
Low: 0.2112
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.