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Ripple's XRP technical analysis: XRP/USD remains exposed to downside pressure following flag breach

  • Ripple's XRP price is trading in the red by some 0.15% in the session on Tuesday.
  • XRP/USD is at risk of giving up the $0.2000 price mark, following a breach a flag breach on Sunday.
  • The price is running towards is the fourth consecutive session in the red, as the bears maintain control. 
Ripple's XRP technical analysis: XRP/USD remains exposed to downside pressure following flag breach
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

A critical demand zone is seen via the daily from $0.2200-0.2000 range. 

XRP/USD 60-minute chart

Near-term price action is moving within the confinements of a bearish pennant structure. 


 

Spot rate:                 0.2195

Relative change:      -0.10%

High:                        0.2225

Low:                         0.2184

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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