Ripple's XRP technical analysis: XRP/USD failing to break $0.3000 proved to be punishing
|- Ripple's XRP price is trading with the red by some 6.80% in the session on Thursday.
- XRP/USD is breaking out of a rising ascending channel via the daily view.
- The price failed to gather enough momentum to properly break down $0.3000.
XRP/USD daily chart
The bears are testing critical supporting trend line to the downside, subject to a potential fresh wave of selling pressure.
XRP/USD 15-minute chart
Near-term price action is moving within a bearish flag structure, subject to a breach.
Spot rate: 0.2894
Relative change: -6.80%
High: 0.3149
Low: 0.2748
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.