Connect with us

Technical Analysis

XRP Daily Price Analysis. Falling Wedge Formation

Last updated

 

on

  • XRP price in falling wedge formation
  • Key Support $0.25
  • Key Resistance $0.285

1 Hour XRP/USD price chart

XRP continues its downward movement against the U.S. Dollar by losing over 2.5% in the last 24 hours. The price is clearly moving within the falling wedge formation towards key support at $0.25 cents. We may witness a sharp reversal when the trend line crosses the support line.  Bulls may also take control of the market sooner if the price moves further down below $0.265 on high momentum and prints a long tail candlestick.

XRP price would need to pass several resistance levels and close above the key resistance of $0.285 for the market to become bullish again.

Chart source: Tradingview

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.


RippleCoinNews Newsletter

Keep Up With Blockchain Technology Updates and Ripple XRP Coin News & Price Analysis.

* We value your privacy and will never share your information with anyone.