XRP/USD jumps 3% within 30 minutes but loses most of it in the next hour

July 17, 2020 John Ripple 0

  • XRP/USD just had a significant spike from $0.1925 to $0.198 in less than 30 minutes.
  • Unfortunately, bulls couldn’t that level and Ripple price is already at $0.194.

XRP/USD has been in a slow descending trend for the past week forming long-wick candlesticks on the daily chart. After peaking at $0.211 on July 9, the digital asset has been dropping almost every day. The daily uptrend is still intact, however, bulls are clearly losing a lot of strength in the short-term.

XRP/USD 15-minutes chart

A sudden spike took XRP almost above $0.20, however, bulls were stopped quickly and are giving back almost all the gains. At this point, the 15-minute chart seems to have formed an extended ‘Bart’ pattern after dropping to $0.188 in a matter of minutes and trading sideways for the next few hours into the bull break.