XRP/USD to falling back into a death trap as market corrects

Fibo Quantum

  • Ripple’s XRP price on Thursday is trading in very minor positive territory up some 0.05%, as the greater market corrects.
  • XRP/USD gradually giving back the gains as the price further cooling following the big run north on Tuesday and Wednesday.
  • The price is subject to falling back within the narrowing range-block, which the bulls had managed to escape. 

 

Spot rate:                 0.3400

Relative change:      +0.05%

High:                        0.3496

Low:                         0.3364

 

XRP/USD 60-minute chart

  • XRP/USD is floating in no-mans land, the next major area of support is back now at the prior narrow range. Seen below:

XRP/USD daily chart

  • Price subject to falling back within the narrowing mundane trading range which the bulls managed to escape on Tuesday.