XRP/USD bearish pennant remains a problem

  • Ripple’s XRP price is trading in the red by some 0.10% in the session on Wednesday.
  • XRP/USD continues to trade within a bearish pennant structure via the daily. 
  • The price is running towards its third consecutive session in the red. 

XRP/USD daily chart

The bears able to maintain downside pressure, following a failure to escape a bearish pennant structure, big resistance barrier seen at $0.2300. 

XRP/USD 60-minute chart

Price action has managed to creep above a descending trend line which had been capping upside. 

Spot rate:                 0.2226   

Relative change:      -0.10%

High:                         0.2240

Low:                          0.2205

 

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