Ripple Price Analysis: Are we going to test the recent lows?
- Ripple is trading 0.60% lower following heavy losses over the weekend.
- There are lows quite close by that the bears might target.
XRP/USD Daily Chart
Ripple is really struggling at the moment after very heavy losses this weekend.
The price is now heading toward the lows of 0.1752 you can see on the daily chart below.
The capitulation from the 50% Fibonacci retracement has been very fast.
The market then pushed below the 0.2475 support and then used the level as resistance for another push lower.
On Monday, the red 0.2025 support has been used but it is still looking vulnerable and this could just be a small blip.
Keep an eye on how the price reacts at the lows as the volume is clearly with the sell-side.
Additional Levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
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