Ripple’s XRP technical analysis: XRP/USD 0.2000 still in the sights of the bears

• Ripple’s XRP price is trading in the red by some 0.50% in the session on Tuesday.
• XRP/USD moving within a daily pennant formation continues to indicate of vulnerabilities to the downside.  
• The next major area of interest eyed down at $0.2000 for the market bears, large weekly and psychological support.  

XRP/USD weekly chart

Price action is moving to the downside within a descending channel structure via the weekly view.  

XRP/USD daily chart

The price continues to narrow within a bearish pennant structure via the daily view.  

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Spot rate:                 0.2198      

Relative change:       -0.50%

High:                         0.2232

Low:                           0.2169