Ripple's XRP Technical Analysis: XRP/USD critical support set for a big test
|- Ripple's XRP is once again on the back foot on Thursday, nursing loses of some 2%.
- XRP/USD is gunning towards a retest of vital daily support at 0.3200-0.3180 area.
XRP/USD 15-minute chart
- Near-term price action has breached above a descending trend line of resistance, price set to retest that.
Spot rate: 0.3270
Relative change: -0.85%
High: 0.3308
Low: 0.3234
Trend: Bearish
Support 1: 0.3246, daily pivot point support.
Support 2: 0.3192, daily pivot point support.
Support 3: 0.3126, daily pivot point support.
Resistance 1: 0.3365, daily pivot point resistance.
Resistance 2: 0.3431, daily pivot point resistance.
Resistance 3: 0.3485, daily pivot point resistance.
XRP/USD 60-minute chart
- Price action is moving within a bearish flag patterns structure seen via the 60-minute.
XRP/USD daily chart
- Bears are running towards a retest of vital near-term daily support. A breach could invite another wave of selling, sending price below $0.3000.
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