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XRP Price Analysis: XRP/USD testing critical support to the downside which could be punishing

  • XRP price is trading in negative territory, with losses of some 0.10% on Tuesday.
  • XRP/USD has been consolidating over the last six sessions, as the bulls lose momentum.
  • Critical daily support should be noted at the range of $0.2700-0.2600. 
XRP Price Analysis: XRP/USD testing critical support to the downside which could be punishing
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

Heavy supply can be observed from $0.2750-0.2900 price range via the daily. 

XRP/USD 60-minute chart 

The near-term critical demand zone can be seen propping up the price at present, running from $0.2700-0.2650. 

Spot rate:                  0.2733

Relative change:       -0.10%

High:                          0.2750

Author

Ken Chigbo

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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