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Ripple's XRP Technical Analysis: XRP/USD bulls cannot get passed $0.35.0.36 barrier

Ripple's XRP price on Tuesday nursing steep losses of around 3% in the second half of the session.
XRP/USD bulls do not seem to have enough momentum to breakdown $0.3500-0.3600.

Ken Chigbo Independent Analyst

XRP/USD 15-minute chart

Near-term ascending trend line via the 15-minute providing some minor comfort.

Spot rate: 0.3211

Relative change: -3.01%

High: 0.3375

Low: 0.3166

Trend: Bearish

Trends:
    Daily SMA20: 0.3118
    Daily SMA50: 0.3182
    Daily SMA100: 0.3417
    Daily SMA200: 0.3776
Levels:
    Previous Daily High: 0.3408
    Previous Daily Low: 0.3004
    Previous Weekly High: 0.3505
    Previous Weekly Low: 0.2982
    Previous Monthly High: 0.3906
    Previous Monthly Low: 0.2833
    Daily Fibonacci 38.2%: 0.3254
    Daily Fibonacci 61.8%: 0.3158
    Daily Pivot Point S1: 0.3073
    Daily Pivot Point S2: 0.2836
    Daily Pivot Point S3: 0.2668
    Daily Pivot Point R1: 0.3477
    Daily Pivot Point R2: 0.3645
    Daily Pivot Point R3: 0.3882

XRP/USD 60-minute chart

Price moving within a pennant/triangular structure, immediate support at $0.3180, resistance at $0.3280, the respective lower and upper trend lines.

XRP/USD daily chart

Bulls continue to struggle breakdown the tough stubborn barrier at $0.3500-0.3600 price range.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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