XRP/USD big test of critical demand zone

  • Ripple’s XRP price in the session on Thursday is trading in negative territory by some 2.25%.
  • XRP/USD price action is trying to find some firmer footing, after smashing out to the downside from bearish pennant structure. 
  • There is a large buying area of which the price is trading within, 0.3000-0.2500 range. 


Spot rate:                 0.2610

Relative change:      -2.15%

High:                         0.2668

Low:                          0.2420

XRP/USD daily chart

  • Price action stabilized somewhat within a known demand area, $0.3000-0.2500, after smashing out to the downside from bearish pennant. 


XRP/USD 4-hour chart

  • There are signs of stabilization via the 4-hour chart, price broke out to the downside form near-term pennant.##
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