Market Overview

XRP/USD Breakout Is Imminent

Share:
XRP/USD Breakout Is Imminent
  • Ripple's XRP price on Thursday is trading in the red, down some 0.40%. 
  • XRP/USD price action continues to narrow, remaining in consolidation mode, moving within a bearish pennant structure.
  • Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure. Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.

XRP/USD daily chart

  • Price action moving within a bearish pennant structure, conditions are very narrow, with a potential breakout nearing.

XRP/USD 60-minute chart

  • XRP/USD continues to flirt with the big heavily defended $0.2500 price mark. A breakout could be punishing, next major area of support eyed down at $0.2000.

Image Sourced from Pixabay

Posted-In: crypto market FXStreetCryptocurrency News Eurozone Forex Markets General

 

Related Articles

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Facebook Dating Service Arrives

GBP/USD: Pound Look Unstoppable