- Ripple’s XRP price on Monday is trading in the red, down some 0.90%.
- XRP/USD price action remains in consolidation mode, moving within a bearish pennant structure. Price the appears vulnerable to downside risks.
- Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure.
- Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.
Spot rate: 0.2553
Relative change: -0.90%
High: 0.2571
Low: 0.2535
XRP/USD daily chart
- Price action moving within a bearish pennant structure, conditions are very narrow, with a potential breakout nearing.
XRP/USD 60-minute chart
- XRP/USD is attempting to hold the current bottom at $0.2500 but is vulnerable to downside risks.