- XRP/USD bears remain in control, pushing the price further to the downside, in negative territory by 1%.
- Key near-term support eyed between the $0.3000-0.2800 range, a failure to hold could send price down to $0.2500.
Ripple’s XRP late in the session on Tuesday was nursing losses of around 1%, as the bears piled the pressure back. XRP/USD is running at the third consecutive daily closure in the red, with the price back to cooling, which began to saw bears gaining pace on 21st March.
XRP/USD has been flirting with the big psychological $0.3000 mark to the downside, a break below could invite a further chunky wave of selling pressure. Near-term the big area to note is seen tracking from $0.3000-0.2500, an exposure here could see a fast fall down to $0.2500.
Given current downside momentum, eyes must be on the next big areas of comfort. Firstly; $0.2943, daily and weekly pivot point support, $0.2912, weekly pivot point support, $0.2850 monthly pivot point support. In terms of upside barriers; $0.3037, daily 23.6% Fibonacci, $0.3099, weekly 23.6% Fibonacci.
XRP/USD daily confluence detector
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