Ripple’s XRP Price Analysis: XRP/USD Breaks To The Downside

  • In the closing stages of Tuesday’s trading session, a heavy selling pressure was triggered, which led to a drop in XRP/USD around 3%.
  • From a near-term supporting ascending trend line, XRP/USD breaks to the downside.

Ripple’s XRP experienced a heavy selling pressure in the latter stages of Tuesday’s trading. The move seems to be technically linked. We could see a breach of a near-term support area, which could have seen the rushing in of sellers.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.224285
1.48%

In the 30-minute chart view, XRP/USD had been grinding higher; this is supported by an ascending trend line which has been on since the early part of Monday’s session. Recently, we have observed a breach. A technical move of stops being triggered to the downside, as the price moves towards the support mentioned above.

Buyers are making attempts to defend the big psychological $0.5000 mark.

 

 

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