Ripple's XRP technical analysis: XRP/USD subject to a big retest of $0.2500
|- Ripple's XRP price on Monday is trading firmly in the red by some 1.50% in the session.
- XRP/USD bears are forcing the price to head for another retest of the big $0.2500 demand zone.
- The price is running at its fifth consecutive session in the red after the bulls lost momentum trying to break down $0.3000.
Spot rate: 0.2924
Relative change: -1.50%
High: 0.2773
Low: 0.2696
XRP/USD daily chart
- If the price fails to hold the incoming retest of $0.2500, it could be very punishing in forcing XRP/USD down to $0.2000.
XRP/USD 60-minute chart
- Near-term price action is moving within a descending wedge structure.
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.