- Ripple’s XRP is trading in negative territory late on Thursday, down some 0.80%.
- XRP/USD price action continues to move within a horizontal channel formation, a lack of clear trend for now.
Ripple’s XRP price was nursing losses in the latter part of trading on Thursday, down some 0.80%, after what has been a generally muted session. XRP/USD continues to face the issue of being rejected at a chunky area of supply.
XRP/USD has failed to see any form of price progression since 11th January, moving within a mundane trading range. The high of this seen up at $0.3500 and the low down at $0.2850 area, as it continues to lack commitment in either direction.
Price action has formed a horizontal channel formation, which still at present offers no clear path of direction. XRP/USD just remains within the confinements of this structure for now. The resistance is tracking at the upper acting trend line $0.3500-3550 range, support at $0.3100. A break above or below will provide the defining longer-term direction.
XRP/USD daily chart
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