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XRP Price Analysis: XRP/USD narrowing range remains a large risk to the downside

  • XRP price is trading in negative territory, with losses of some 1.95% on Thursday.
  • XRP/USD remains at risk of a drop south; the price moving within a bearish flag.
  • The range is limited to the upside at $0.17 and to the downside at $0.14.
XRP Price Analysis: XRP/USD narrowing range remains a large risk to the downside
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

Price action has offered nothing in terms of direction since 13 March, remaining in a bearish flag.

XRP/USD 60-minute chart

Near-term price action has formed a bearish flag structure, subject to a breakout south. 

Spot rate:                   0.1610

Relative change:       -0.55%

High:                          0.1632

Low:                           0.1600

Author

Ken Chigbo

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 Price Analysis: XRP/USD narrowing range remains a large risk to the downside