- Ripple’ XRP nursing steep losses of 3%, vulnerable to further downside.
- XRP/USD moving within a bearish pennant structure, if this is breached, then a fresh wave of selling pressure will likely be seen.
Ripple’s XRP is seen down firmly in the red on Tuesday, losses just shy of 3% into the second half of the session. This consistent downside pressure of late, is something that remains evident across the entire market.
XRP/USD is moving within consolidation mode and still remains subject to another drop down south. The price has been moving within a pennant structure over the last two sessions, which indicates of further vulnerabilities.
Immediate support should be noted at around the $0.3500 level. Furth south, there is a demand zone, which has provided assistance over the last two sessions. This is seen tracking from $0.3450 down to $0.3300.
XRP/USD 60-minute chart