Ripple’s price has recently found itself resting on a significant support area, spanning from $0.58 to the dynamic support provided by the upper boundary of the triangle formation. This critical support zone is anticipated to hinder further downward pressure, setting the stage for a noteworthy rebound in the mid-term.
XRP Analysis
By Shayan
The Daily Chart
Upon thorough examination of the daily chart, it’s apparent that XRP experienced a notable plunge recently, ultimately landing on a pivotal support region encompassing the $0.57 mark and bolstered by the dynamic support of the triangle’s upper boundary.
Consequently, a reversal is expected as intensified buying pressure nears this crucial level, propelling the price toward the critical resistance at $0.66. Nonetheless, Ripple’s long-term trajectory appears to be consolidating within a decisive range, with $0.7 acting as a crucial resistance and $0.6 as a significant support until a breakout transpires.
Source: TradingView
The
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