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Ripple Price Analysis: XRP/USD is looking for support levels

  • Ripple has not escaped the crypto rout today and XRP/USD has fallen over 7.5%.
  • The next main support zone looks like it might be the psychological 0.20 level.
Ripple Price Analysis: XRP/USD is looking for support levels
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD Daily Chart

Could this chart show that the recent Ripple rally was just a deep retracement of the downtrend?.

The price fall from the 0.3463 high has been pretty dramatic.

Now the price is heading toward the 0.20 support level. This level has been used on 4 strong occasions. 

Beyond that, the 0.1760 wave low could be the main base-level support.

The overall sentiment of this market is still bearish and lower level look likely to be tested.

Ripple

Additional Level

XRP/USD

Overview
Today last price0.2327
Today Daily Change-0.0197
Today Daily Change %-7.81
Today daily open0.2524
 
Trends
Daily SMA200.2867
Daily SMA500.2541
Daily SMA1000.2333
Daily SMA2000.2538
 
Levels
Previous Daily High0.271
Previous Daily Low0.251
Previous Weekly High0.3187
Previous Weekly Low0.2615
Previous Monthly High0.254
Previous Monthly Low0.1846
Daily Fibonacci 38.2%0.2586
Daily Fibonacci 61.8%0.2634
Daily Pivot Point S10.2452
Daily Pivot Point S20.2381
Daily Pivot Point S30.2252
Daily Pivot Point R10.2653
Daily Pivot Point R20.2782
Daily Pivot Point R30.2854

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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