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Thread: Ripple Analysis

  1. #136
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    XRP/USD

    The price of Ripple has continued decreasing from the last week’s interaction with the support level at $0.244 and came down to $0.20865 at its lowest point yesterday. From there we have seen an increase of 9.05% as the price came up to $0.22591 at its highest point today.



    On the hourly chart, we can see a similar picture like in the case of Bitcoin especially the interactions with the Fib level as the price found support on the 1.272. The price fell below the previous low at $0.2276 with strong bearish momentum indicating that we are still in a corrective stage of a higher degree and invalidating the possibility of the developing impulse wave.

    Read more on FXOpen blog...

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    XRP/USD

    From last Friday when the price of Ripple came up to $0.23307 we have seen a decrease of 5.78% as the price came down to $0.2199 at its lowest point yesterday which is again currently being retested for support.



    On the hourly chart, you can see that the price is made a five-wave recovery similar like on the chart of Bitcoin and formed an ascending triangle. With the price decrease now retesting the horizontal support we are yet to see if the support is present.

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    XRP/USD

    The price of Ripple has decreased by 4.4% from yesterday’s open at $0.23235 as it came down to $0.22215 at its lowest point today. Last week on Thursday a minor recovery has started and pushed the price above the 1 Fib level but since then a minor retracement has been made below it. This could be an early indication that the price decrease would continue further as the level hasn’t served as support.



    On the hourly chart, you can see that the price of Ripple moved sideways since the interaction with the 1.272 Fibonacci level and reached a prior high level without surprising it before another downturn started. As the price made an ascending triangle on the previous increase and then went on to decrease on a higher low this could be the start of the 3rd wave to the upside out of which we are seeing the 1st sub-wave.

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