XRP/USD may have to drop to $0.2000 for big buyers

XRP/USD late on Friday is trading down with minor losses of 1%.

Price action via the 4-hour chart view has formed a bearish pennant. 

Ripple’s XRP late in the session on Friday is trading in negative territory, nursing losses of just some 1%.

XRP/USD price action has been attempting to bottom out and stabilize, following the harsh beating seen earlier in the week.

The price has been caught and supported by a chunky known area of demand, $0.3000-0.2500. However, this current consolidation behaviour has formed a bearish pennant structure, seen via the 4-hour chart. 

It suggests there may be one last potential fall down to $0.2000 before the bug buyers return.

XRP/USD 4-hour chart