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Ripple Technical Analysis: XRP/USD price action remains dictated by rising wedge pattern, bulls still have chance for upside, before another drop south

  • Ripple price nursing minor losses on Thursday of 0.60%, as mixed trading across the crypto market continues.
  • XRP/USD broke out of a supporting ascending trend line, running from 18th June.

XRP/USD 30-minute chart

Spot rate:                    0.53644

Relative change:         -0.60%

High:                            0.54965

Low:                             0.53280

Trend:                          Bearish/Neutral

Support 1:                   0.53504, (support on 30-minute chart).

Support 2:                   0.53250, 50% Fibonacci.

Support 3:                   0.52600, (support on 30-minute chart) & 61.8% Fibonacci.

Resistance 1:              0.53916, underneath the ascending trend line & 38.2% Fibonacci.

Resistance 2:              0.54000, 50MA & 100MA.

Resistance 3:             0.54400, (resistance on 30-minute chart).

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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