Ripple Technical Analysis: XRP/USD price sees huge development, as it escapes the bearish shackles
- Ripple price on Thursday seen up around 1% in the session, as the price bounce solid bounce.
- XRP/USD saw decent buying in the back end of Wednesday's session, jumping from $0.25 up into the $0.27 region.
- The price managed to break back above a descending trend line, that had contained upside since 6th September.
XRP/USD 4-hour chart
Spot rate: 0.27217
Relative change: +0.95%
High: 0.27600
Low: 0.26724
Trend: Bullish/Neutral
Support 1: 0.26680, above broken descending trend line.
Support 2: 0.26120, support on 4-hour chart.
Support 3: 0.25450, demand zone.
Resistance 1: 0.27500, resistance on 4-hour chart.
Resistance 2: 0.27935, 50MA.
Resistance 3: 0.28755, supply zone.
Author
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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