Ken Chigbo
Independent Analyst
- Ripple's XRP price is trading up with marginal gains of 1.25% in the session.
- XRP/USD has been falling for the past six consctuctive sessions, bulls attempting to stage a rebound, but downside vulnerabilities remain.
- The bears forced a breach of the critical $0.2500, which leaves the door open to a $0.2000 return.
XRP/USD daily chart
Eyes are on the big psychological $0.2000 where buyers have previously been found, failure to hold here could be very punishing.
XRP/USD 60-minute chart
Near-term price action is moving within a bearish flag structure, subject to a potential breakout.
Spot rate: 0.2373
Relative change: +1.25%
High: 0.2440
Low: 0.2320
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