Ripple’s XRP technical analysis: XRP/USD bears force daily flag breakout

FX Street

Updated: 8 Nov. 2019 | 16:32

Ripple’s XRP price is trading with the red by some 5.50% in the session on Friday.
XRP/USD has breached an ascending channel/bearish flag via the daily.
The failure of the bulls attempting to break $0.3000 has invited selling pressure.

XRP/USD weekly chart

XRP bears are pressing to end the five consecutive weeks of gains that the bulls had enjoyed.

XRP/USD daily chart

Price action via the daily has breached a bearish flag structure, inviting further selling pressure.

Spot rate: 0.2742

Relative change: -5.55%

High: 0.2908

Low: 0.2755

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