- 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
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