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Ripple Technical Analysis: XRP/USD important support level in focus

  • XRP/USD trades 3% lower today as the crypto market turns bearish again.
  • The 0.2180 previous wave low support level will now be in focus.
Ripple Technical Analysis: XRP/USD important support level in focus
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XRP/USD 1-Hour Chart - Market holds under 0.22

Ripple is looking bearish today and on the hourly chart the previous wave low is under threat.

On the chart there is also a converging channel line to be aware of for support.

The market has rejected the lows and pushed up higher over 2 candles but this happens in cryptos watch out for a break.

Ripple technicals

XRP/USD Daily Chart 

This is how the level looks on the daily chart and if the wave low breaks it could open up a move to the lows near the 0.20 psychological level.

A move beyond that point to take Ripple to new lows. The price is really in a tough zone at the moment.

Ripple analysis

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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