Home / Ripple / The XRP / USD has been spared from the huge downside, thanks to a rising channel

The XRP / USD has been spared from the huge downside, thanks to a rising channel

  • The XRP / USD sees a pullback to the broken pennant structure, completing a breakout and testing again.
  • The 60-minute graphical display shows that the price is still widely supported for further improvement.

The XRP was seen suffering heavy losses for Friday's final trading phases, down by around 4.5%, as the price further cools. The bullish momentum was not sustained after the resistance run towards $ 0.4100.

XRP / USD 4 hour chart

The last rebound that started on November 27th, the bulls push for a breakout from the structure of a pennant model. This can be seen by viewing the 4-hour chart. Over the past two days, the price has again repeated that the formation has violated, leaving room for this to be capitalized.

60 minute chart

Looking through the 60-minute chart view, price action has shifted to an upward channel formation. The price has been captured by the lowest trend line, from freefall to the south. The support seems robust around the territory from $ 0.3500. The main drag and barrier remain at $ 0.4100 for the bulls to try and tackle.

Source link