XRP/USD breakout is near, as $0.2000 remains vulnerable

Fibo Quantum

  • Ripple’s XRP price on Wednesday is trading in the red, down some 0.90%. 
  • XRP/USD price action is moving within consolidation mode, having formed a bearish pennant structure. 
  • The price is very much narrowing, subject to a potential breakout, given the lack of room to manoeuvre. 

Spot rate:                 0.2663

Relative change:      -1.15%

High:                         0.2694

Low:                          0.2651

XRP/USD daily chart

  • Price action moving within a bearish pennant structure, subject to a breach. 

XRP/USD 60-minute chart

  • The price is stuck within a mundane range, to a high of $0.2800, down to a low of $0.2650.