Ripple’s XRP Technical Analysis: XRP/USD remains in danger, subject to another fall

• Ripple’s XRP seen down just over 1% in the session on Thursday, within a form of consolidation.
• XRP/USD price action has formed a bearish pennant pattern, which is subject to another breakout to the downside.
• Key near-term support levels should be noted at $0.4400 and then 0.4100-0.4000.

XRP/USD 60-minute chart  

Spot rate:                   0.4437

Relative change:       -1.19%

High:                          0.4641

Low:                           0.4146

Trend:                         Bearish

Support 1:                   0.4400, lower trend line of pennant.

Support  2:                   0.4204, daily pivot point support.

Support  3:                   0.3927,  daily pivot point support.

Resistance  1:              0.4492, upper trend line of pennant.

Resistance  2:              0.4699, daily pivot point resistance.

Resistance  3:              0.4917,  daily pivot point resistance.

XRP/USD 4-hour chart view

• Vulnerabilities shown here, a potential breakout could be seen forcing a retest of vital demand zone around $0.4100-0.4000.