Ken Chigbo
Independent Analyst
- Ripple’s XRP price is seen trading down a chunky 4% in the latter part of Thursday.
- XRP/USD remains at risk of another retest to the downside of $0.3000.
Ripple’s XRP has seen losses of around 4% in the latter stages of trading on Thursday. XRP/USD continued to cool after a decent run of gains seen through much of the week. XRP/USD had initially gained as much as 18% this week, before running out of steam.
XRP/USD price is being supported by a key area around $0.3200-0.3180, a failure of this holding could be catastrophic. Should such a breach occur, the price could be forced to retest the big psychological $0.3000 mark again to the downside.
Given current downside momentum, eyes must be on the key potential barriers of support; $0.3151, daily pivot point support, $0.3085, 23.6% weekly Fibonacci, $0.2951, monthly pivot point support. Aside from these, decent demand area should be noted from $0.3000-0.2500 price range.
XRP/USD daily confluence detector
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