Ripple’ XRP technical analysis: XRP/USD no slowdown in bearish momentum in sight

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  • Ripple’s XRP price in the session on Wednesday is trading in negative territory by some 1.50%.
  • XRP/USD bearish momentum has failed to slow down since pennant breakout via the daily. 
  • There is a large buying area which is being tested to the downside, $0.3000-0.2500 range. 

 

Spot rate:                 0.2931

Relative change:      -2.15%

High:                         0.2980

Low:                          0.2925

 

XRP/USD daily chart

  • Price pressures are heavily leaning towards further downside, which has been the case since pennant breakout. 

XRP/USD 60-minute chart

  • Price action is being supported by a near-term ascending trend line, preventing a further drop for now. 

 

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