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XRP Analysis: Bears and Bulls Battle at Support Level…

Conclusion for today’s XRP price analysis:

Buying on a breakout above the upper boundary of resistance i.e. $1.16 represents a very conservative strategy/entry into long (buy) positions.

XRP Analysis for today covers market action from December 08, 2017 to current date, with previous analysis presented here.  Price action has been in a downtrend ever since Ripple reached a price high of $3.30 on January 04, 2018.

XRP Chart Analysis

Bearish trendline is highlighted on the chart as well as a higher level of overhead supply between $0.92 and $1.16. Support level for Ripple is present between $0.25 and $0.30, which is where price action is currently consolidating.

A close below $0.25 implies further downside in the price of Ripple. A breakout above the dotted bearish trendline is presented to help find an early entry into a long (buy) position if bullish momentum develops at support.

Buying on a breakout above the upper boundary of resistance i.e. $1.16 represents a very conservative strategy/entry point into long (buy) positions.

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1 thought on “XRP Analysis: Bears and Bulls Battle at Support Level…

  1. […] Interested in the XRP Analysis (Ripple)? Checkout our previous free blog post here. […]

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