Ripple’s XRP technical analysis: XRP/USD bulls are one push from greater heights

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  • Ripple’s XRP price is trading down with losses of some 4.20% in the session on Thursday. 
  • XRP/USD bulls failed to breakdown the chunky barrier of resistance around the $0.2800-0.2900 area. 
  • Price action can be seen moving within an ascending channel structure, which could be also viewed as a bearish flag. 

 

XRP/USD daily chart

The bulls so far have faltered at the barrier of $0.2800-0.2900, which could prove to be a problem by inviting sellers to come into play. 

XRP/USD 60-minute chart

Support will likely be sought below at the ascending trend line seen via the 60-minute. 

 

Spot rate:                 0.2815

Relative change:      -4.20%

High:                         0.2825

Low:                          0.2660

 

 

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