Ripple's XRP Technical Analysis: XRP/USD moving within bullish pennant formation, set for potential explosive breakout
|- Ripple's XRP holding gains of 17% on Monday, as price cracks big resistance at the $0.4000 mark.
- XRP/USD price action moving within a bullish pennant formation, subject to a breakout to the upside.
XRP/USD 15-minute chart
- Price action supported by a near-term ascending trend line, explosive moves are still eyed.
Spot rate: 0.4357
Relative change: +16.41%
High: 0.4607
Low: 0.4230
Trend: Bullish
Resistance 1: 0.4450, upper part of pennant pattern.
Resistance 2: 0.4550, 60-minute resistance.
Resistance 3: 0.4607, Monday session high.
Support 1: 0.3641, near-term ascending trend line.
Support 2: 0.3525, daily pivot point support.
Support 3: 0.3400, daily pivot point support.
XRP/USD 60-minute chart
- Price moving within a range-block formation, subject to a breakout to the upside.
XRP/USD 4-hour chart
- Near-term area of supply tracking around $0.43-0.46, barrier in the way of $0.50 reclaim.
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.