Home Ripple’s XRP price analysis: XRP/USD comes under selling pressure late on Friday
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Ripple’s XRP price analysis: XRP/USD comes under selling pressure late on Friday

FX Street
Published date:
  • XRP/USD trading down over 2% in the late part of trading on Friday.
  • Next major area of demand tracks from $0.3000 down to $0.25000 range.

Ripple’s XRP price is seen nursing losses in the latter stages of trading on Friday. Price is seen down some 2%. XRP/USD has been stuck within a narrow range for the past 14 trading sessions, as market remains somewhat cautious.

XRP/USD was moving within an ascending channel formation from the 24th January, however the bears managed to force a breakout to the downside, during the session today. Support around the $0.3150 area was breached.

In terms of near-term technical, XRP/USD as mentioned above, has broken down hourly support seen at $0.3150. Given this detailed breakout, eyes are now once again on the big psychological $0.3000 mark to the downside. A chunky demand area can be eyed at $0.3000-0.25000.

XRP/USD daily chart  

 

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