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  • Ripple’s XRP is trading in negative territory on Monday, nursing losses of around 1% late on Monday.
  • XRP/USD daily price action continues to move within the confinements of a wedge pattern structure.

 

Ripple’s XRP on Monday started the week off in negative territory, seen down around 1% heading towards the latter stages of trading. XRP/USD remains within the confinements of an ascending wedge formation, which can also be looked at as somewhat of a bearish flag

XRP/USD moving within the above-noted structure does remain subject to potential breakout south. The lower acting trend line of support is being tested to the downside, as the price is magnetized to this at present.

Looking via the daily confluence detector, given the bearish price action, barriers of support must be eyed; $0.3104, weekly 38.2% Fibonacci, $0.3071, daily pivot point support, weekly 23.6% Fibonacci, $0.3006, weekly pivot point support.  

XRP/USD daily confluence detector