Ripple Technical Analysis: XRP/USD jumps 3% within 30 minutes but loses most of it in the next hour
- XRP/USD just had a significant spike from $0.1925 to $0.198 in less than 30 minutes.
- Unfortunately, bulls couldn’t that level and Ripple price is already at $0.194.
XRP/USD has been in a slow descending trend for the past week forming long-wick candlesticks on the daily chart. After peaking at $0.211 on July 9, the digital asset has been dropping almost every day. The daily uptrend is still intact, however, bulls are clearly losing a lot of strength in the short-term.
XRP/USD 15-minutes chart
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A sudden spike took XRP almost above $0.20, however, bulls were stopped quickly and are giving back almost all the gains. At this point, the 15-minute chart seems to have formed an extended ‘Bart’ pattern after dropping to $0.188 in a matter of minutes and trading sideways for the next few hours into the bull break.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
