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  • 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