Ripple’s XRP technical analysis: XRP/USD lack of directional commitment creates vulnerabilities

 

  • Ripple’s XRP price on Wednesday is trading marginally in the red, down some 1.50%. 
  • XRP/USD price is yet to see any form of directional commitment, as it remains within the confinements of a bearish pennant. 
  • The price over the last three sessions has been cooling and further narrowing. 

 

Spot rate:                 0.2554

Relative change:      -1.50%

High:                         0.2609

Low:                          0.2524

XRP/USD daily chart

  • Price action is further narrowing via the daily chart view, within a bearish pennant pattern.

XRP/USD 60-minute chart

  • The price is moving within a horizontal channel structure, awaiting an incoming breakout. 

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