Ripple's XRP technical analysis: XRP/USD bears smash out of flag structure
|- Ripple's XRP price is trading with steep losses of some 6.50% in the session on Wednesday.
- XRP/USD has been dealt with a hammer blow, rejection at $0.3000 and the price now losing ground as the bear's breach flag pattern.
- The price is now exposed to further selling pressure given the recent breakout.
XRP/USD daily chart
The current daily candle is largely in control by the bears, as a new wave of selling pressure is seen out from a bearish flag.
XRP/USD 60-minute chart
A key near-term ascending trend line has been breached, opening the door to more sellers.
Spot rate: 0.2729
Relative change: -6.15%
High: 0.2917
Low: 0.2680
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