Ken Chigbo
Independent Analyst
- Ripple's XRP price on Friday is trading firmly in the red by some 3% in the session.
- XRP/USD bears are forcing the price to give back the strong gains seen earlier in the week.
- The price is heading for a retest of a breached pennant structure, failure to hold the retest could be punishing.
Spot rate: 0.2924
Relative change: -9.05%
High: 0.3025
Low: 0.2888
XRP/USD daily chart
- The price earlier in the week extended to the upside off a breached pennant, bears are pushing for the retest.
XRP/USD 60-minute chart
- Price action is forming a potential head and shoulders structure, with the price heading towards a neckline retest, almost completing a right shoulder.
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