Ripple Technical Analysis: XRP/USD crashes lower, but takes a quick time out, before the bears reapply intensifying pressure
|- Ripple price was seen down a chunky 5% on Tuesday, as the firm pressure from the bears intensifies.
- XRP/USD crashed down below $0.25, where a demand zone kicked into play.
- Price action has formed a rising wedge pattern, which looks worrying, demonstrating another breakout south is potentially pending.
XRP/USD 30-minute chart
Relative change: -5.57%
High: 0.27756
Low: 0.24653
Trend: Bearish
Support 1: 0.25815, lower part of rising wedge.
Support 2: 0.25269, (support on 30-minute chart).
Support 3: 0.24653, today’s (Tuesday) low.
Resistance 1: 0.26853, upper part of rising wedge.
Resistance 2: 0.27690, 50MA.
Resistance 3: 0.28655, supply zone & 100MA area.
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