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XRP Price Analysis: XRP/USD now a fast $0.2500 return is eyed

  • 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 Price Analysis: XRP/USD now a fast $0.2500 return is eyed
Ken ChigboKen ChigboIndependent Analyst

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

XRP/USD

Overview
Today last price0.2224
Today Daily Change0.0078
Today Daily Change %3.63
Today daily open0.2146
 
Trends
Daily SMA200.1914
Daily SMA500.1783
Daily SMA1000.2174
Daily SMA2000.2292
 
Levels
Previous Daily High0.2182
Previous Daily Low0.1948
Previous Weekly High0.1999
Previous Weekly Low0.1784
Previous Monthly High0.2468
Previous Monthly Low0.1129
Daily Fibonacci 38.2%0.2093
Daily Fibonacci 61.8%0.2037
Daily Pivot Point S10.2002
Daily Pivot Point S20.1857
Daily Pivot Point S30.1767
Daily Pivot Point R10.2236
Daily Pivot Point R20.2326
Daily Pivot Point R30.2471

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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