- Ripple’s XRP in the latter part of trading on Thursday was nursing minor losses of 3.80%.
- XRP/USD bears have forced a breakout of a triangular pattern structure, which could be very damaging.
Ripple’s XRP late in the session on Thursday was nursing losses of some 3.80%, flirting with the lower vital support of a triangular pattern structure. XRP/USD is back within the control of the market bears.
XRP/USD price is breaching the critical triangular pattern structure, the lower part of the acting trend line is tracking at $0.3150. The current daily candlestick is moving below this, a daily closure below could be very damaging.
Given current downside momentum, eyes are on the next big barriers of support via the confluence detector. Firstly; $0.3079, daily pivot point support, $0.3015, daily pivot point support, $0.2886. In terms of upside, there is a chunky barrier noted at $0.3111, monthly 61.8% Fibonacci, $0.3143, daily pivot point resistance.
XRP/USD daily confluence detector