FX.co ★ Weekly XRP analysis.

XRP is trading just above $0.70. Short-term trend is bearish as price is making lower lows and lower highs since before Christmas when price bounced towards $1.01. On a weekly basis we can say that price is trapped inside a triangle pattern.

Green lines- support trend lines

XRPUSD has made no real progress after making the $1.96 high back in April of 2021. Price has made a strong pull back towards $0.50 and bounced strongly towards $1.41 to form a lower high. Price then made another pull back towards $0.60 and formed a higher low. Now we are testing the trend line support area around $0.65. This is key support for the long-term view of XRPUSD.