Ken Chigbo
Independent Analyst
- Ripple's XRP price is trading marginally in the red, down just some 0.60% in the second half of the session.
- XRP/USD via the daily chart view sees a bullish technical set up, pennant structure subject to a breakout.
- Heavy near-term supply remains running from $0.4000 up to $0.4100, capping upside potential at present.
Spot rate: 0.4007
Relative change: -0.65%
High: 0.4102
Low: 0.3964
XRP/USD 60-minute chart
- Price action via the 60-minute chart view is narrowing within a rising wedge pattern formation.
XRP/USD daily chart
- XRP/USD daily price action is moving within a bullish pennant pattern formation, something which is seen with some of its peers also.
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