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Ripple Technical Analysis: XRP/USD slammed another 4% on Tuesday, as price loses ground again within early $0.60 territory

Ripple price was under further pressure on Tuesday from the bears, as the price ran into difficulty within the early $0.60 area.
XRP/USD price behaviour is still choppy, suggesting of no commitment yet.
Vital near-term support is need at $0.54, a break below could see $0.40 back into the picture.

Ken Chigbo Independent Analyst

XRP/USD 60-minute chart

Spot rate: 0.5743

Relative change: - 4.00%

High: 0.5982

Low: 0.5718

Trend: Bearish

Support 1: 0.5750, (support on 60-minute chart).

Support 2: 0.5600, (support on 60-minute chart).

Support 3: 0.5440, 29th May low.

Resistance 1: 0.5846, 50MA.

Resistance 2: 0.6000, supply zone entry.

Resistance 3: 0.6220, 100MA.

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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