Ken Chigbo
Independent Analyst
- XRP price is trading in positive territory, with gains of some 3.60% on Wednesday.
- XRP/USD now has room for a fast return into $0.2500 following the $0.2000 reclaim.
- Given the psychological $0.2000 breach, buyer confidence has very much been restored.
XRP/USD daily chart
The bulls enjoyed a chunky run to the upside on Tuesday, smashing above $0.2000, which has set the price up for greater moves north. Barrier now eyed at; $0.2500, $0.2800 and then $0.3000.
XRP/USD 60-minute chart
Price action via the 60-minute chart view is narrowing, having formed a bullish pennant structure, inviting further buying pressure.
Spot rate: 0.2223
Relative change: +3.60%
High: 0.2250
Low: 0.2128
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