Ripple’s XRP  technical analysis: XRP/USD bulls hit by big barrier within $0.3000 region

• Ripple’s XRP price on Thursday is trading heavily in the red by some 9%.
• XRP/USD price action broke out from a bearish pennant structure and is heading for a retest.  
• The bulls ran into a heavy supply area within the big pychological $0.3000 price mark.  

Spot rate:                  0.2863

Relative change:       -9.05%

High:                          0.3137

Low:                           0.2827

XRP/USD daily chart

• A harsh rejection was seen after the bulls had led the price back into the $0.3000 territory.  

XRP/USD 60-minute chart

• Via the 60-minute chart view, a demand zone can be seen running from $0.2900 – 0.2850, preventing further selling pressure.