Ripple's XRP technical analysis: XRP/USD smashed by the bears, only $0.3000 can potentially save total bloodshed now
|
- Ripple's XRP price on Thursday is trading deeply in the red by some 7.10% in the second half of the day.
- A fresh wave of selling pressure really kicked in after the bears manage to breakdown $0.4000 earlier in the week.
- Via the daily chart view, a critical ascending trend line was breached by the bears, inviting another wave of selling pressure.
Spot rate: 0.3346
Relative change: -7.10%
High: 0.3625
Low: 0.3179
XRP/USD 60-minute chart
- Bearish pennant was breached via the 60-minute chart, another bearish flag can be seen.
XRP/USD daily chart
- The critical daily trend line was breached earlier in the week, opening the door to a fresh wave of selling pressure.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.