The crypto market has not yet recovered from the recent collapse. During this time, Ripple continues its macro downward trend from last year and is currently trading close to its lowest yearly level.
Technical Analysis
By Grizzly
The Daily Chart
As seen in the daily timeframes and linear graph, XRP has reached the descending line (in white), which is now acting as support. Since hitting this level, the market bounced significantly. Suppose the bulls can hold the price above the static support level at $0.33 (in green) and accumulate strongly in this area. In that case, the cryptocurrency might attempt a shot at $0.51. To achieve this, Ripple must form a higher high than the last one, which it has not been able to do in the past year.
At this point, XRP requires a catalyst, such as fundamentally positive news. A possible drive could be a positive outcome of the SEC trial.
Key Support Levels: $0.33 & $0.17
Key Resistance Levels: $0.55 & $0.68
Source: TradingView
Moving Averages:
We współpracy z: https://cryptopotato.com/xrp-recovers-10-in-a-week-will-the-recovery-continue-ripple-price-analysis/
