Ripple's XRP technical analysis: XRP/USD smashes a critical demand zone

Ripple's XRP price is trading in the red by some 2.35% in the session on Tuesday.
XRP/USD bears have breached a critical price zone around the $0.2500 territory.
Next major area of interest now is the $0.2400-0.2300 range.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Critical daily demand zone should be noted from $0.2600-0.2500, the bears broke out to the downside.

XRP/USD 60-minute chart

Price has extended to the downside after smashing out of a bearish flag structure.

Spot rate: 0.2465

Relative change: -2.35%

High: 0.2532

Low: 0.2432

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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