Ripple’s XRP Price Analysis: XRP/USD is a sitting duck awaiting bear attack
|- Ripple’s XRP can be seen trading in minor negative on Wednesday and remains vulnerable.
- The next major area of demand is observed sub the $0.30 mark, as proven on several occasions.
Ripple’s XRP was seen trading in minor negative territory on Wednesday night. Price action once again has been confined within a narrow range, with vulnerabilities still pointing to further downside.
XRP/USD over the past six sessions, has been stuck within a daily range-block formation. The upper resistance can be observed from $0.34-0.35, with lower support seen at the $0.32 mark. There isn’t much in the way of major support, until south of $0.30.
A very well-known area for buyers can be seen sub-$0.30, the price last traded here mid-December. On 17th December a decent amount of buying interest kicked firmly back into XRP, after being forced to such depressed levels Bears will likely drive XRP/USD to seek support/buyers down within this demand area.
XRP/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.