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XRP Technical Analysis: Short Term Update and Bullish Opportunity

A 1 hour time frame candlestick chart is used in today’s XRP analysis covering December 15, 2018 price action to date.

Price swing upward from $0.28 on December 15, 2018 terminated at ~$0.46, followed by a retracement and consolidation in the price of Ripple.

XRP price analysis. XRP Technical analysis

Current focus is placed on the region between ~$0.36 and $0.33 which provides support for the uptrend from $0.28. Also noticeable is the formation of a pennant chart pattern (i.e. downward slanting blue line with the top of support at $0.36), which traditionally implies a continuation of bullish price movement upon price exiting the pattern.

Price closing below $0.33 reduces the chance for a continuation of the bullish swing in the price of Ripple and therefore triggering lower prices.

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2 thoughts on “XRP Technical Analysis: Short Term Update and Bullish Opportunity

  1. […] Interested in XRP Analysis (Ripple)? Checkout our previous free blog post here. […]

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