- Ripple’s XRP price is trading in negative territory, with losses of some 3.00% on Friday.
- XRP/USD remains capped to the upside by $0.2500, which has been observed for three weeks.
- The bulls will need to breakdown resistance of a double top formation via the daily,
XRP/USD weekly chart
The bulls are set for closure in the green via the weekly, however, price action has done little over the last three weeks.
XRP/USD daily chart
A double top formation can still be observed via the daily chart view, the top area is around $0.2450. Price action is moving to the upside within an ascending channel structure, which can also be viewable as a bearish flag.
Spot rate: 0.2366
Relative change: -3.00%
High: 0.2446
Low: 0.2336