Ripple's XRP Technical Analysis: XRP/USD critical demand zone in play $0.3500-0.3400, a break will call upon $0.3000

  • Ripple's XRP is being hammered on Thursday, down a big 6.7% in the mid-part of the session.
  • XRP/USD after being part of a market wide bear attack, remains vulnerable to further downside risks. 

XRP/USD 15-minute chart

  • XRP/USD price action consolidating around session lows for now, subject to further downside risks. 

 

 

Spot rate:                  0.3460

Relative change:      -1.83%

High:                         0.3906

Low:                          0.3412

 

Trend:                        Neutral

 

Support 1:                  0.3642, daily pivot point support.

Support 2:                  0.3566, daily pivot point support.

Support 3:                  0.3508, daily pivot point support.

Resistance 1:             0.3776, daily pivot point resistance.

Resistance 2:             0.3835, daily pivot point resistance.

Resistance 3:             0.3911, daily pivot point resistance.

 

XRP/USD 4-hour chart

  • Price action is being heavily supported by a demand zone seen tracking from $0.3400-0.3300 This has been in play since mid-December. 

XRP/USD daily chart

  • Over the daily time frame, XRP/USD is stuck within a range-block formation.

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