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Ripple's XRP technical analysis: XRP/USD heavy supply observed running from $0.4450-0.4600

  • Ripple's XRP price in the second half of Tuesday is trading in very minor positive territory by some 0.10%. 
  • XRP/USD price action has taken a critical bounce off an ascending trend line.
  • Chunky supply can be seen via the daily running from $0.4450-0.4600 range. 
Ripple's XRP technical analysis: XRP/USD heavy supply observed running from $0.4450-0.4600
Ken ChigboKen ChigboIndependent Analyst

Spot rate:              0.4165

Relative change:   +0.11%

High:                      0.4176

Low:                       0.3949

XRP/USD 60-minute chart

  • Price action is moving within a narrowing triangular structure as seen via the 60-minute chart view.  

XRP/USD daily chart

  • XRP/USD is struggling to breakdown daily supply, $0.4450-0.4600 price range. 

Author

Ken Chigbo

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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