Ripple's XRP price analysis: XRP/USD faces potential problematic barrier at $0.2800
- Ripple’s XRP price late Thursday is trading in positive territory by some 2.60%.
- Heavy resistance can be observed heading into the psychological $0.3000 territory.
Ripple’s XRP on Thursday is trading in minor positive territory by some 2.60%.XRP/USD is attempting to recover some of the deep losses encountered recently.
The price managed to receive decent support within a buying area of $0.2600-0.2550, a proven territory to attract buyers. Failure of the noted holding could have sent the price down to the psychological $0.2000 mark.
To the upside in terms of resistance, a descending trend line can be observed, which is tracking at $0.2800. Rejections have been seen here through the month so far, as observed via the 4-hour chart view.
XRP/USD 4-hour chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
