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Ripple Technical Analysis: XRP/USD finds support at the hourly trendline

  • Ripple has moved 0.73% lower today as general crypto sentiment remains weak.
  • There is a trendline on the hourly chart that has been tested and the market found support.
Ripple Technical Analysis: XRP/USD finds support at the hourly trendline
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD Hourly Chart

Ripple has consolidated on the hourly chart after dropping from 0.2338 to 0.2197.

The market has made a few higher lows but now looks to be testing lower levels.

0.22 is the psychological support zone and if taken out, could indicate lower levels are on the cards.

On the topside the bulls are looking to target the next resistance is at 0.2247 and if the price is to retest the 0.2338 level the first support needs to be taken out with good volume.

Ripple analysis

Additional Levels

XRP/USD

Overview
Today last price0.2218
Today Daily Change-0.0012
Today Daily Change %-0.54
Today daily open0.223
 
Trends
Daily SMA200.2255
Daily SMA500.2602
Daily SMA1000.2634
Daily SMA2000.31
 
Levels
Previous Daily High0.2258
Previous Daily Low0.2194
Previous Weekly High0.2279
Previous Weekly Low0.2104
Previous Monthly High0.3149
Previous Monthly Low0.2015
Daily Fibonacci 38.2%0.2218
Daily Fibonacci 61.8%0.2233
Daily Pivot Point S10.2196
Daily Pivot Point S20.2163
Daily Pivot Point S30.2132
Daily Pivot Point R10.2261
Daily Pivot Point R20.2291
Daily Pivot Point R30.2325

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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