Ripple’s XRP Price Analysis: XRP/USD must breakdown $0.4750 for recovery or face further devastation
|- Near-term barrier for XRP/USD eyed around the $0.4750-mark, key to further upside.
- The potential for a bearish flag pattern should not go unnoticed via the 30-minute chart.
Ripple’s XRP has been recovering in a very choppy fashion over the past few hours now, after heavily bleeding. XRP/USD bears were penetrating heavily to the downside, for a test of that big $0.4000. The low of the session was the lowest print seen since 15th October.
Current price action via the 30-minute chart view, has been licking its wounds following the intense pressure applied by the market bears. The potential for a bearish flag formation can been eyed on the 30-minute chart.
Near-term resistance is seen at $0.4750, as proven within recent price action via the short-time frame chart, 30-minute. A firm break above, can facilitate the $0.5000 coming quickly back into the picture.
XRP/USD 30-minute chart
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