Crypto NewsRipple (XRP)

3 times XRP increased from this level, will it happen again?

                                                            Ripple  hat im vergangenen Jahr dreimal die Spanne zwischen 0,5 und 0,55 $ berührt.  Jetzt versuchen die Bären, den Preis erneut in diese Spanne zu bringen, aber wird die Unterstützung auch beim vierten Versuch Bestand haben?

Technical Analysis

Technical Analysis of Grizzly

The daily chart

On the daily time frame, the bears were able to sink the price below the $0.63 support level and into a horizontal one Resistance turn (in red).

XRP price continued to fall after the pullback and is now near the support zone $0.50-0.55 (in green). Since last month, the bearish momentum in the market has started to fade.

Having entered the green zone three times in the past year, the price is now seen as weaker technical support. If bearish momentum decreases further, demand at this level is unlikely to be able to outpace supply if support is retested. In this case, contact support at $0.42 is probably the next stop for XRP.

3 times XRP increased from this level, will it happen again?, Crypto Trading News

Moving Averages:

MA20: $0.65

MA50: $0.74

MA100: $0.75

MA200: $0.83

The 4 hour chart

On the 4-hour timeframe, Ripple fell to the short-term support at $0.56 after failing to break through the thick Ichimoku cloud.

Given that cloud thickness has decreased in the $0.60 resistance zone, expect the resistance to be likely to be retested. If Ripple fails to return to the top of this resistance, it is likely to drop into the $0.5 support area mentioned above.

3 times XRP increased from this level, will it happen again?, Crypto Trading News

Source: Crypto News Deutsch

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