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  • Ripple’s XRP price on Wednesday is trading in the red, down some 0.80%.  

  • XRP/USD price action remains in consolidation mode, moving within a bearish pennant structure. Price the appears vulnerable to downside risks.

  • Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure.

  • Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.

Spot rate:                  0.2595

Relative change:       -1.60%

High:                          0.2632

Low:                           0.2587

XRP/USD daily chart

  • Price action moving within a bearish pennant structure, conditions are very narrow, with a potential breakout nearing.

XRP/USD 60-minute chart


  • XRP/USD continues to flirt with the big heavily defended $0.2500 price mark. The price is also moving towards an ascending trend line retest via the 60-minute.