- Ripple’s XRP price on Thursday is trading in the red, down some 0.40%.
- XRP/USD price action continues to narrow, remaining in consolidation mode, moving within a bearish pennant structure.
- Buyers are heavily trying the defend the $0.2500 mark, failure to do so could open the door to a strong wave of selling pressure. Should the bears force a breach the narrowing conditions, then the next major demand zone is seen down at $0.2000.
XRP/USD daily chart
- Price action moving within a bearish pennant structure, conditions are very narrow, with a potential breakout nearing.
XRP/USD 60-minute chart
- XRP/USD continues to flirt with the big heavily defended $0.2500 price mark. A breakout could be punishing, next major area of support eyed down at $0.2000.
Image Sourced from Pixabay