- Ripple’s XRP price is trading firmly in the red, down over 5% in the session on Thursday,
- XRP/USD price action is moving within a pennant pattern, subject to a breakout to the downside.
- Ripple announced another partnership, large Asian bank, CIMB Group will be utilizing Ripple’s technology.
- Losses are not as harsh as some of XRP’s peers seen across the market.
XRP/USD 30-minute chart
Spot rate: 0.4508
Relative change: -5.94%
High: 0.4755
Low: 0.4454
Trend: Bearish
Support 1: 0.4502, lower support of pennant.
Support 2: 0.4200, daily pivot point support.
Support 3: 0.3643, daily pivot point support.
Resistance 1: 0.4621, upper part of pennant & 50MA.
Resistance 2: 0.4875, 100MA.
Resistance 3: 0.5000, psychological level.
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