XRP/USD bears force daily flag breakout

Fibo Quantum

  • Ripple’s XRP price is trading with the red by some 5.50% in the session on Friday. 
  • XRP/USD has breached an ascending channel/bearish flag via the daily.
  • The failure of the bulls attempting to break $0.3000 has invited selling pressure. 

 

XRP/USD weekly chart

XRP bears are pressing to end the five consecutive weeks of gains that the bulls had enjoyed. 

XRP/USD daily chart

Price action via the daily has breached a bearish flag structure, inviting further selling pressure. 

 

Spot rate:                  0.2742      

Relative change:      -5.55%

High:                         0.2908

Low:                          0.2755