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  • 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.