Ripple’s XRP technical analysis: XRP/USD subject a to big retest of $0.2500

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  • Ripple’s XRP price is trading up with marginal gains of 1.00% in the session. 
  • XRP/USD has managed to stabilize after taking a beating over the last week and a half, ending the sixth straight sessions of losses. 
  • A rejection at $0.2500 could be very punishing for XRP, the next target would naturally be $0.2000.

 

XRP/USD daily chart

The price is retesting the breached prior support at $0.2500, a rejection could bring back into play $0.2000.

 

XRP/USD 60-minute chart

Price action is subject to downside risks as it moves within a bearish flag structure. 

 

 

Spot rate:                 0.2373

Relative change:      +1.25%

High:                         0.2496

Low:                          0.2488

 

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