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Ripple’s XRP Price Analysis: XRP/USD bears close to punishing support breach

FX Street
Updated:
  • Ripple’s XRP price is trading in negative territory, nursing losses some % on Thursday.
  • XRP/USD is subject to breaking out to the downside from a narrowing daily range block. 
  • Next critical daily support areas are seen at $0.2250, 0.2100 and then $0.2000. 

 

XRP/USD daily chart

Price action has been narrowing for some nine sessions, with a breakout to the downside nearing. An ascending wedge structure can also be viewed, which the bears are breaking out of. 

XRP/USD 60-minute chart 

Price action has smashed out to the downside from a bearish flag structure, making way for greater pressure south. 

 

Spot rate:                  0.2368 

Relative change:       -5.15%

High:                          0.2369

Low:                           0.2244

 

 

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