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  • Ripple’s XRP price is trading in the red by some 0.50% in the session on Monday.
  • XRP/USD remains vulnerable as it traded underneath the psychological $0.2000.  
  • Price action is back within consolidation mode, with the danger of further potential moves to the downside.  

 

XRP/USD daily chart

Price action has formed another bearish pennant, following the breakout and extension lower last week from a similar pattern.  

 

XRP/USD 60-minute chart

Heavy near-term supply is observed via the 60-minute, at a range of $0.1900-0.2000. Support is seen tracking around the current market price, an ascending trend line.  

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Spot rate:                 0.1960      

Relative change:       -0.50%

High:                         0.1990

Low:                           0.1945