Ken Chigbo
Independent Analyst
XRP/USD late on Friday is trading down with minor losses of 1%.
Price action via the 4-hour chart view has formed a bearish pennant.
Ripple’s XRP late in the session on Friday is trading in negative territory, nursing losses of just some 1%.
XRP/USD price action has been attempting to bottom out and stabilize, following the harsh beating seen earlier in the week.
The price has been caught and supported by a chunky known area of demand, $0.3000-0.2500. However, this current consolidation behaviour has formed a bearish pennant structure, seen via the 4-hour chart.
It suggests there may be one last potential fall down to $0.2000 before the bug buyers return.
XRP/USD 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto Today: US Senator tells Fed to buy BTC, DOGE demand hit $12B, NVIDIA bets drive AKT
Dogecoin's price gained 4% within the daily timeframe to reclaim the $0.40 territory. With selling pressure in decline, on-chain signals suggest DOGE bulls could set sights on a breakout to $0.50.
Ethereum Price Forecast: ETH could see a decline as on-chain and derivatives data paint bearish picture
Ethereum (ETH) declined below $3,100 on Tuesday as market sentiment surrounding the top altcoin is turning bearish. On-chain data reveals that investors are potentially withdrawing and putting sell pressure on exchanges.
Coinbase set to delist WBTC amid cbBTC expansion
Coinbase announced via an X post on Tuesday that it will suspend WBTC trading across all its platforms on December 19. Meanwhile, the exchange also revealed that its wrapped Bitcoin token, cbBTC, launched on Arbitrum earlier today.
Dogecoin Price Forecast: Selling pressure drops 95% as DOGE traders target $0.50 breakout
The Dogecoin price breached the $0.40 resistance on Monday, rebounding from a 15% pullback. On-chain transaction flows observed this week suggest DOGE could be on the verge of another leg-up toward $0.50.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.