- The Ripple price nursing chunky losses of over 4% in the session on Monday, after lack of stability from the highs over the weekend.
- XRP/USD has edged over an improve ascending trend line of support, a retest is currently eyed underneath.
The Ripple price in the latter stages of trading on Monday was licking its wounds, hit with a bout of selling pressure. This coming after the highs printed over the weekend, which saw the price pushing up to $0.62.
XRP/USD price action has been very much choppy of late, however still managing to push higher. It has been supported by an ascending trend line, this has been running from 18th September, down at $0.27.
Looking technically, given the breach of the above-mentioned trend line, it does spark some concern of vulnerabilities. Bears will be rubbing their paws together, should the retest respect underneath the broken trend line, this could open the door to further downside pressure. Immediate support is seen at the 50MA (4-hour). Resistance to the upside now seen underneath the broken trend line, tracking at $0.5800.
XRP/USD 4-hour chart
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