Ripple Technical Analysis: A few key technical points are converging all at once
- Ripple is trading nearly 2% lower on the session as sentiment remains low.
- The moving averages and support zone are all in proximity on the 4-hour chart.
XRP/USD 4-Hour Chart
Ripple is trading lower as sentiment weakens.
On the four hour chart the bulls might have some help as the 55 and 200 EMA might offer support.
Not only that, there is a support level at 0.2021 and the 0.2000 psychological support close by.
If that breaks the next level on the downside to watch is the consolidation low of 0.1850.
On the upside, the key resistance remains at the previous wave high of 0.2250.
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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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