Ken Chigbo
Independent Analyst
- Ripple's XRP is holding minor gains of around 1% into the second half of the session on Friday.
- XRP/USD via the near-term view has moved back towards and flirting with an ascending trend line, which formed at the start of 16th December bull run.
XRP/USD 15-minute chart
- Price action was moving within an ascending channel formation and has recently seen a breach by the market bears.
Spot rate: 0.3461
Relative change: +1.33%
High: 0.3546
Low: 0.3373
Trend: Neutral
Support 1: 0.3220, daily pivot point support.
Support 2: 0.3023, daily pivot point support.
Support 3: 0.2711, daily pivot point support.
Resistance 1: 0.3728, daily pivot point resistance.
Resistance 2: 0.4040, daily pivot point resistance.
Resistance 3: 0.4236, daily pivot point resistance.
XRP/USD 60-minute chart
- Price action is back in play with an ascending trend line, which formed at the start of the 16th December uptrend.
XRP/USD daily chart
- Next major support area is still some way south, seen down at the range of $0.3000-0.2500.
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