- Ripple’s XRP trading down on Friday 2% in the early part of the sessions
- As covered in yesterday’s article, a vital near-term support was being penetrated by the bears.
- A firm breach of the prior mentioned pennant structure was seen, this allowed room for further selling to come into play.
- Eyes are on to see how well $0.4100-0.4000 will hold over the coming days.
XRP/USD 4-hour chart
Spot rate: 0.4128
Relative change: -2.01%
Support 1: 0.4112, daily pivot point support.
Support 2: 0.4000, daily pivot point support.
Support 3: 0.3799, daily pivot point support.
Resistance 1: 0.4425, daily pivot point resistance.
Resistance 2: 0.4627, daily pivot point resistance.
Resistance 3: 0.4738, daily pivot point resistance.
XRP/USD daily chart view
- The vital near-term support can be eyed at $0.4100-0.4000, a failure to hold here could see XRP/USD falling down to the $0.3800 territory. Ahead of a further potential drop to $0.3000-0.2500 range.