XRP/USD bearish structure subject to a break

Fibo Quantum

  • Ripple’s XRP is trading marginally the green, with gains of some 1% in the second half of Friday.
  • Near-term price action received a helping hand from an ascending trend line of support.
  • Vulnerabilities to the downside still remain, given bearish pennant structure. 

 

Spot rate:                 0.3160

Relative change:      +.1.06%

High:                         0.3180

Low:                          0.3074

XRP/USD 60-minute chart

  • Price action via the 60-minute chart view took a decent bounce off a reliant ascending trend line. 

XRP/USD daily chart

  • A bearish pennant structure can be seen containing the price via the daily. ##