XRP/USD make promising breakout of bearish pattern

  • Ripple’s XRP price is trading in the red by some 1.90% in the session on Tuesday.
  • XRP/USD price action is moving within another bearish technical structure, which would suggest further moves south. 
  • The next major area of safety to the downside remains at $0.1500. 

 

XRP/USD monthly chart

The price is set for another closure on the month in the red, it markets two consecutive now. As XRP heads into the new year stuck within a bearish trend, with little signs of that changing anytime soon for now. The price is sitting below critical monthly support at $0.2300. 

XRP/USD daily chart

Price action is moving within a bearish pennant via the daily, subject to a potential breakout south. 

 

Spot rate:                 0.1918 

Relative change:      -0.50%

High:                         0.1937

Low:                          0.1913