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Ripple's XRP Technical Analysis: XRP/USD if $0.32 is broken, there will be a total bloodshed

Ripple XRP is trading down 2.8% in the latter part of Thursday's session.
XRP/USD bears are penetrating $0.3200 to the downside. This is the recent bottom area.
A breach of the $0.3200 level will see a likely fall towards $0.2500 price territory.

Ken Chigbo Independent Analyst

XRP/USD daily chart

Spot rate: 0.3270

Relative change: -2.80%

High: 0.3440

Low: 0.3270

Trend: Bearish

Support 1: 0.3244, daily pivot point support.

Support 2: 0.3132, daily pivot point support.

Support 3: 0.3000, psychological support.

Resistance 1: 0.3479, daily pivot point resistance.

Resistance 2: 0.3591, daily pivot point resistance.

Resistance 3: 0.3652, daily pivot point resistance.

XRP/USD 60-minute chart

XRP/USD price action via the 60-minute chart view can be seen moving within descending channel pattern.

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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