Ken Chigbo
Independent Analyst
- Ripple's XRP price on Thursday is trading deeply in the red by some 7.10% in the second half of the day.
- A fresh wave of selling pressure really kicked in after the bears manage to breakdown $0.4000 earlier in the week.
- Via the daily chart view, a critical ascending trend line was breached by the bears, inviting another wave of selling pressure.
Spot rate: 0.3346
Relative change: -7.10%
High: 0.3625
Low: 0.3179
XRP/USD 60-minute chart
- Bearish pennant was breached via the 60-minute chart, another bearish flag can be seen.
XRP/USD daily chart
- The critical daily trend line was breached earlier in the week, opening the door to a fresh wave of selling pressure.
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