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Ripple’s XRP technical analysis: XRP/USD bearish pennant remains a problem

FX Street
Published date:
  • Ripple’s XRP price is trading in the red by some 0.10% in the session on Wednesday.
  • XRP/USD continues to trade within a bearish pennant structure via the daily.  
  • The price is running towards its third consecutive session in the red.  

XRP/USD daily chart

The bears able to maintain downside pressure, following a failure to escape a bearish pennant structure, big resistance barrier seen at $0.2300.  

XRP/USD 60-minute chart

Price action has managed to creep above a descending trend line which had been capping upside.  

.  

Spot rate:                 0.2226      

Relative change:       -0.10%

High:                         0.2240

Low:                           0.2205

 

 

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