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Ripple Technical Analysis: XRP/USD the daily close below game-changing $0.35, has got the bears rubbing their paws other

Ripple has dropped just a modest 0.5% on Thursday, but the outlook is very much bearish currently.
XRP/USD on Wednesday, closed below the key $0.35 level, exposing it to further selling pressure.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Spot rate: 0.33067

Relative change: -0.51%

High: 0.35712

Low: 0.33034

Trend: Bearish

Support 1: 0.30000, 16th October 201 high.

Support 2: 0.27950, top area seen on 28th/29th November.

Support 3: 0.20000, strong area of demand.

Resistance 1: 0.35000, previous support, 13th December low/wick.

Resistance 2: 0.40250, new resistance likely to be seen, given previous support.

Resistance 3: 0.4100, 22nd December 2017 low, during big bull run period.

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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