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Ripple's XRP technical analysis: XRP/USD bears hunting for big $0.2500 retest

  • Ripple's XRP price is trading with the red by some 1.00% in the session on Tuesday. 
  • XRP/USD is running towards its second week in the red, the bears are back within control. 
  • The price is retreating following a decent run higher from late October. 
Ripple's XRP technical analysis: XRP/USD bears hunting for big $0.2500 retest
Ken ChigboKen ChigboIndependent Analyst

XRP/USD weekly chart

XRP bears are pressing for a big retest of the $0.2500 area, a critical weekly support level. 

XRP/USD daily chart

Daily price action broke out to the downside from a critical ascending trend line of support. 

Spot rate:                 0.2712

Relative change:      -1.00%

High:                         0.2762

Low:                          0.2705

Author

Ken Chigbo

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.

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