Ripple's XRP technical analysis: XRP/USD heading for big $0.20 test

Ripple's XRP price is trading up with marginal gains of 1.25% in the session.
XRP/USD has been falling for the past six consctuctive sessions, bulls attempting to stage a rebound, but downside vulnerabilities remain.
The bears forced a breach of the critical $0.2500, which leaves the door open to a $0.2000 return.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Eyes are on the big psychological $0.2000 where buyers have previously been found, failure to hold here could be very punishing.

XRP/USD 60-minute chart

Near-term price action is moving within a bearish flag structure, subject to a potential breakout.

Spot rate: 0.2373

Relative change: +1.25%

High: 0.2440

Low: 0.2320

Author

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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