XRP/USD faces potential problematic barrier at $0.2800

Fibo Quantum

  • Ripple’s XRP price late Thursday is trading in positive territory by some 2.60%. 
  • Heavy resistance can be observed heading into the psychological $0.3000 territory. 

 

Ripple’s XRP on Thursday is trading in minor positive territory by some 2.60%.XRP/USD is attempting to recover some of the deep losses encountered recently.

The price managed to receive decent support within a buying area of $0.2600-0.2550, a proven territory to attract buyers. Failure of the noted holding could have sent the price down to the psychological $0.2000 mark. 

To the upside in terms of resistance, a descending trend line can be observed, which is tracking at $0.2800. Rejections have been seen here through the month so far, as observed via the 4-hour chart view. 

XRP/USD 4-hour chart