Ken Chigbo
Independent Analyst
- Ripple's XRP price is trading with gains of some 4.50% in the session on Monday.
- XRP/USD bulls were hit with rejection at the pychological $0.3000 mark, which could prove to be punishing.
- The bulls will need to breakdown the above-noted to receive another wave of buying pressure.
XRP/USD daily chart
Daily price action has formed an ascending channel structure, which does remain vulnerable to downside risk.
XRP/USD 60-minute chart
Near-term price action is being guided to the upside by a rising trend line, which has been in play since Saturday.
Spot rate: 0.2930
Relative change: -1.60%
High: 0.2995
Low: 0.2284
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