Ripple’s XRP Technical Analysis: XRP/USD troubles still loom

• Ripple’s XRP was seen nursing losses of over 2% in the session on Monday.
• XRP/USD price action has formed a bearish flag pattern, subject to another potential drop.
• Since the market bottoming, the bulls have failed to commit, rallies continue to be sold.  

XRP/USD 15-minute chart

Spot rate:                   0.3618

Relative change:       -2.11%

High:                          0.3637

Low:                           0.3559

Trend:                         Bearish

Support 1:                   0.3601, lower support of flag.

Support 2:                   0.3540, daily pivot point support.

Support 3:                   0.3438, daily pivot point support.

Resistance 1:              0.3640, upper part of flag.

Resistance  2:              0.3795, daily pivot point resistance.

Resistance  3:              0.3897, daily pivot point resistance.

XRP/USD daily chart

• Price action is moving within a bearish pennant  pattern formation, seen via the daily chart view.