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Ripple Price Analysis: XRP / USD bears the selling pressure to make the bulls lurk in ambush

  • On Monday, the price of the waves was beaten in the last stages of trading, with losses of around 3%.
  • Great failure for the bulls, after failing to overcome a downward trend line, which helps to form a falling channel.

The price of Ripple was under selling pressure in the last phases of Monday's trading, treating some losses of over 3% in the session. This occurs after the bulls have failed to push past the resistance, which was $ 0.2825.

The XRP / USD price action has shifted to a descending model, which began to take shape on September 6-7, and has since been respected. After the heavy crash that took place since September 4, Ripple traded in a narrow range of around 2.5 cents, fluctuating between $ 0.2550 and $ 0.2800.

Technically, there is some support seen around $ 0.2680-50, if the bears manage to push through this, XRP / USD could quickly return to the next $ 0 request area , 2550. The support area mentioned is not too much above the bottom of the downward channel, of which the price is dictated by, keeping track of around $ 0.2450. The resistance in the short term remains in the upper part of the channel formation, with a tracking of $ 0.2825.

60-minute XRP / USD chart

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