Ken Chigbo
Independent Analyst
- Ripple's XRP price late in the session on Tuesday is trading in negative territory, down some 3%.
- XRP/USD bears have been retesting a bearish pennant structure to the downside, acting as support, subject to giving way to fresh selling pressure.
- The big psychological $0.3000 is vulnerable to another bout of pressure from the market bears.
Spot rate: 11,809.76
Relative change: -0.05%
High: 0.3246
Low: 0.3114
XRP/USD 60-minute chart
- A near-term trend line was breached, forcing a fresh wave of selling pressure, as seen via the 60-minute.
XRP/USD daily chart
- Bears are forcing a critical retest of breached pennant structure, now subject to potentially giving way.
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