Ripple's XRP Technical Analysis: XRP/USD bulls going for a retest of the broken wedge structure

Ripple's XRP price on Wednesday is trading every so marginally in the green, gains of 0.30%.
XRP/USD receives comfort from the reliable psychological $0.3000 price area, buyers continue to protect.
Another retest appears to be underway of the breached ascending wedge/flag structure.

Ken Chigbo Independent Analyst

Spot rate: 0.3023

Relative change: -1.50%

High: 0.3029

Low: 0.2964

XRP/USD

Overview
Today last price	0.3021
Today Daily Change	0.0025
Today Daily Change %	0.83
Today daily open	0.2996

Trends
Daily SMA20	0.3101
Daily SMA50	0.3205
Daily SMA100	0.3162
Daily SMA200	0.3534

Levels
Previous Daily High	0.3097
Previous Daily Low	0.2986
Previous Weekly High	0.3176
Previous Weekly Low	0.2915
Previous Monthly High	0.3803
Previous Monthly Low	0.2827
Daily Fibonacci 38.2%	0.3028
Daily Fibonacci 61.8%	0.3055
Daily Pivot Point S1	0.2956
Daily Pivot Point S2	0.2915
Daily Pivot Point S3	0.2845
Daily Pivot Point R1	0.3067
Daily Pivot Point R2	0.3137
Daily Pivot Point R3	0.3178

XRP/USD 60-minute chart

Price bounces off the key near-term ascending trend line, but there is still much in the way of resistance through the $0.3000 region.

XRP/USD daily chart

Price managed to catch some support once again around big demand zone, just under the psychological $0.3000 mark.

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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