Ripple's XRP technical analysis: XRP/USD smashed by the bears, only $0.3000 can potentially save total bloodshed now

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.

Ken Chigbo Independent Analyst

Spot rate: 0.3346

Relative change: -7.10%

High: 0.3625

Low: 0.3179

XRP/USD

Overview
Today last price	0.335
Today Daily Change	-0.0258
Today Daily Change %	-7.15
Today daily open	0.3608

Trends
Daily SMA20	0.4316
Daily SMA50	0.417
Daily SMA100	0.3683
Daily SMA200	0.3473

Levels
Previous Daily High	0.3972
Previous Daily Low	0.3457
Previous Weekly High	0.4277
Previous Weekly Low	0.3741
Previous Monthly High	0.5074
Previous Monthly Low	0.3704
Daily Fibonacci 38.2%	0.3654
Daily Fibonacci 61.8%	0.3775
Daily Pivot Point S1	0.3386
Daily Pivot Point S2	0.3164
Daily Pivot Point S3	0.2871
Daily Pivot Point R1	0.3901
Daily Pivot Point R2	0.4194
Daily Pivot Point R3	0.4416

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.

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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XRP/USD

XRP/USD 60-minute chart

XRP/USD daily chart

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