Ripple's XRP technical analysis: XRP/USD vulnerable to further downside risks
|- Ripple's XRP price is trading with the green by some 0.40% in the session on Wednesday.
- XRP/USD has bounced off critical daily support for now at $0.2700.
- The price is vulnerable to further downside risks following the ascending channel breach.
XRP/USD weekly chart
Weekly price action is now being forced to narrow within a triangular structure or bearish pennant, subject to breach.
XRP/USD daily chart
Should the price breach $0.2700 support, then a fast move down to $0.2500 could be observed.
Spot rate: 0.2727
Relative change: +0.30%
High: 0.2755
Low: 0.2704
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.