Ripple (XRPUSD) Analysis: Daily Timeframe

The Daily timeframe chart of Ripple (XRPUSD) is presented on a log scale. Current Fibonacci price retracements are provided on the chart to help find support for Ripple (XRPUSD) prior to the resumption of the current bullish trend.

Technical support also coincides with the region of 50% ($0.38856) and 61.8% ($0.35121) providing additional evidence for the price levels favored as a bottom for the price of Ripple.

The projected price path for Ripple is shown by the blue arrow on the chart.

 

The chart provided below is an extension of the chart provided above with the sole purpose of showing the likely profit target for Ripple before another sell off is anticipated i.e. The price of Ripple XRPUSD is expected to target between $0.62650 and $0.68730 after price moves back to between $0.38856 and $0.35121.