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Ripple's XRP technical analysis: XRP/USD buyers are fighting again to defend $10,0000

  • Ripple's XRP price is trading in the red, down over 4% in the session on Monday.
  • XRP/USD price action is very much choppy at present, a lack of direction and commitment, 
  • Big supply remains from $0.3200-0.3400 causing problems for any bullish action.
Ripple's XRP technical analysis: XRP/USD buyers are fighting again to defend $10,0000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3163

Relative change:      -4.25%

High:                         0.3322

Low:                          0.3154

XRP/USD 60-minute chart

  • Near-term price action has smashed below a key ascending trend line of support.

XRP/USD daily chart

  • Big supply can be seen running from $0.3200 up to $0.3400, slowing down any major recovery.

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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