Ken Chigbo
Independent Analyst
- Ripple’s XRP late in the session on Thursday is trading within gains of some 4.85%.
- The bulls are trying to break down the heavy supply seen heading into the psychological $0.3000 mark.
Ripple’s XRP price is holding gains of 4.85%, as the bulls return following two straight sessions of losses. XRP/USD is trading at the highest levels in almost 4 weeks, with the buyers attempting to regain control.
XRP/USD price action since the back-end of September has been trending to the upside, ever-so gradually. It came following a big beating from the bears, which was seen between 19 - 24 September.
Technically, the next major obstacle that remains is $0.3000, the bulls must break this down for greater upside pressure. On the flip side, there are some potential vulnerabilities to the downside that remain, given the bearish flag structure via the daily chart view.
XRP/USD daily chart
XRP/USD 15-minute chart
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