XRP Price Analysis: XRP/USD narrowing range remains a large risk to the downside
|- XRP price is trading in negative territory, with losses of some 1.95% on Wednesday.
- XRP/USD is moving within a bearish flag, firmly presenting the risk of a drop south.
- Key support should be noted around the $0.1400 mark, failure to hold would be punishing.
XRP/USD daily chart
The price has been moving within a bearish flag since 13 March, as it consolidates.
XRP/USD 60-minute chart
Price action has breached a narrowing range block formation, making XRP vulnerable to further downside moves.
Spot rate: 0.1596
Relative change: -1.95%
High: 0.1659
Low: 0.1573
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.