Ken Chigbo
Independent Analyst
- XRP price is trading in negative territory, with losses of some 1.95% on Wednesday.
- XRP/USD is moving within a bearish flag, firmly presenting the risk of a drop south.
- Key support should be noted around the $0.1400 mark, failure to hold would be punishing.
XRP/USD daily chart
The price has been moving within a bearish flag since 13 March, as it consolidates.
XRP/USD 60-minute chart
Price action has breached a narrowing range block formation, making XRP vulnerable to further downside moves.
Spot rate: 0.1596
Relative change: -1.95%
High: 0.1659
Low: 0.1573
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