TRENDING:
EUR/USD
US NFP
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

XRP Price Analysis: XRP/USD sees a possible short squeeze with vulnerabilities remaining under $0.2000

  • XRP price is trading in positive territory, with gains of some 1.70% on Thursday.
  • XRP/USD rallied aggressively, reversing a bearish breakout from the prior session.
  • The bulls still need to push above $0.2000 to regain bullish bias. 
XRP Price Analysis: XRP/USD sees a possible short squeeze with vulnerabilities remaining under $0.2000
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

A big retest is being eyed off a breached flag structure via the daily chart. There is also a chance the bulls capitalize on a near-term bull flag, following the bearish breakout. 

XRP/USD 60-minute chart

Heavy buying saw the price spiking up to $0.1900 in the early part of the European session. Sustainability will be told as the session progresses, there is a risk of this being a short-squeeze. 

Spot rate:                   0.1905

Relative change:       -3.70%

High:                          0.1932

Low:                           0.1741

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.

More from Ken Chigbo
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.