- XRP is trading down some 9% at its lowest level seen in around 1 week.
- A fresh wave of selling pressure came into play, breaking out of a critical bearish flag structure.
XRP is trading down a chunky 9% in the latter part of Wednesday, following a brutal bout of selling that hit the market.
The price has been forced to trade at its lowest levels seen in over a week, as the price smashed out of a bearish flag structure. The noted pattern had been containing XRP since 25 September, as it was consolidating, after bottoming out late in September down within the $0.2100 territory.
XRP/USD is heading for a likely retest of 2019 low that was printed late in September. Should the retest fail to find support, then the $0.2000 mark may be in for some penetration from the bears.
XRP/USD daily chart