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Ripple's XRP Technical Analysis: XRP/USD if $0.3800 is conquered, it can fly again

  • XRP price up over 4% in the early part of Wednesday's session, set for strong recovery.
  • XRP/USD managed to form a bottom over the past few sessions, selling running exhausted. 
  • The price was heavily oversold via the RSI, bulls eyeing opportunity for a strong recovery of losses.
Ripple's XRP Technical Analysis: XRP/USD if $0.3800 is conquered, it can fly again
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart


 
 

Spot rate:                  0.3794

Relative change:      +4.43%

High:                         0.3868

Low:                          0.3631

Trend:                        Bullish

Resistance 1:             0.3810, 11-12 November low area.

Resistance 2:             0.3910, daily pivot point resistance.

Resistance 3:             0.4082, daily pivot point resistance.

Support 1:                  0.3457, daily pivot point support.

Support 2:                  0.3286, daily pivot point support.

Support 3:                  0.3145, daily pivot point support.

XRP/USD 60-minute chart

  • Bulls must break down resistance within $0.38-0.39 terrtitory for greater upside. 

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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