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Ripple's XRP Technical Analysis: XRP/USD bears locked in on make or break demand area

  • XRP dealt another blow on Monday nursing losses over 2% into the session. 
  • Eyes are firmly locked in for another potential drop down to $0.25-0.20 price range. 
  • Big buying has previously been observed in the mentioned zone, this is the next major area of support. 
  • American Express general manager of corporate payments, Carlos Carriedo, was praising the speed of Ripple's technology for payments. 
XRP/USD daily chart
 

Spot rate:                  0.3068

Relative change:      -2.25%

High:                         0.3182

Low:                          0.3055

Trend:                        Bearish

Support 1:                  0.3020, daily pivot point support.

Support 2:                  0.2901, daily pivot point support.

Support 3:                  0.2788, daily pivot point support.

Resistance 1:             0.3252, daily pivot point resistance.

Resistance 2:             0.3366, daily pivot point resistance.

Resistance 3:             0.3485, daily pivot point resistance.

XRP/USD weekly chart

  • Price continues to flirt at lowest levels seen since December 2017, during the big bull run at the end of the year.

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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