Ripple's XRP Price Analysis: XRP/USD bears close to punishing support breach
|- Ripple's XRP price is trading in negative territory, nursing losses some % on Thursday.
- XRP/USD is subject to breaking out to the downside from a narrowing daily range block.
- Next critical daily support areas are seen at $0.2250, 0.2100 and then $0.2000.
XRP/USD daily chart
Price action has been narrowing for some nine sessions, with a breakout to the downside nearing. An ascending wedge structure can also be viewed, which the bears are breaking out of.
XRP/USD 60-minute chart
Price action has smashed out to the downside from a bearish flag structure, making way for greater pressure south.
Spot rate: 0.2368
Relative change: -5.15%
High: 0.2369
Low: 0.2244
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