Ripple's XRP technical analysis: XRP/USD smashes a critical demand zone

Ripple's XRP price is trading in the red by some 0.65% in the session on Wednesday.
XRP/USD bears briefly breached a critical price zone around the $0.2500 territory.
Next major area to the downside is seen at the $0.2400-0.2300 range.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Critical daily demand zone is being tested to the downside $0.2400-0.2300.

XRP/USD 60-minute chart

Price action has broken out from a near-term bullish flag structure, managing to recover some of the losses.

Spot rate: 0.2528

Relative change: -0.65%

High: 0.2586

Low: 0.2483

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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