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Ripple (XRP/USD) Technical Analysis: 60-minute Chart View Remains Bearish, Near-term Support Being Tested

Ripple price under further pressure on Friday, nursing losses over 1.5% in the session.
XRP/USD has faced several rejections over the past four sessions, attempting a breaking back above $0.5000 area.
Price moving within a sideways wedge pattern, with the lower support being tested to the downside.

Ken Chigbo Independent Analyst

XRP/USD 60-minute chart

Spot rate: 0.45515

Relative change: -1.65%

High: 0.46549

Low: 0.45285

Trend: Bearish

Support 1: 0.453000, lower supporting trend line.

Support 2: 0.44330, support on 60-minute chart.

Support 3: 0.39610, 15 October low.

Resistance 1: 0.46521, resistance on 60-minute chart.

Resistance 2: 0.48280, upper trend line and supply area.

Resistance 3: 0.48700, double top area.

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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