Search ForexCrunch
  • XRP price is back within the  control of the market bears, nursing losses of some 1% in the session.
  • XRP/USD slammed crashes out of a rising channel formation, testing the big $0.3000 mark to the downside.

 

XRP price in the second half of Monday nursing losses of some 1%, market bears regain control of downside momentum. XRP/USD is running at its second consecutive session in the red, as the crypto market further cools following key support breakouts.

XRP/USD retested the big psychological $0.3000 mark to the downside, however decent near-term buying kicked in to prevent a breach below. Downside momentum has been observed since support gave way, this was part of an ascending wedge formation, via the daily chart view.

Technically, given the above-noted support breach, market bears are likely to further capitalize on this. Immediate comfort is eyed at the $0.3000 mark, should this fail to hold then chunky demand runs from $0.3000 down to the $0.2500 region.  

XRP/USD daily chart