Home Ripple Ripple Technical Analysis: XRP/USD falling wedge flashes signs of a reversal – FXStreet

Ripple Technical Analysis: XRP/USD falling wedge flashes signs of a reversal – FXStreet

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  • Ripple is forced down towards the key support at $0.20.
  • Ripple bulls have no choice but to defend the tentative support at $0.21 and focus on growing an uptrend above $0.24.

XRP/USD daily chart

Ripple is unable to put an end to the downtrend, especially with the RSI sliding towards the overbought.

The falling wedge pattern is a ray of hope that a reversal is imminent.

XRP/USD 4-hour chart

Ripple risks symmetrical triangle breakdown, targeting $0.20 support.

The immediate upside is capped by the moving averages including the 100 SMA and the 50 SMA.

Spot rate: $0.2187

Relative change: 0.000035

Percentage change: 0.02%

Trend: Strongly bearish

Volatility: Low

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