#Ripple Support at $0.37, XRP Down 31% in 3 Months
Past Performance of Ripple
Ripple prices are dropping, aligning with the broader state of crypto. As it is, there are lower lows relative to the upper BB, an indicator of fizzling upside momentum. Overall, XRP is within the November 9 bear candlestick, a net bearish despite the general trader confidence in the tail end of 2022.
#Ripple Technical Analysis
XRP prices are broadly within a consolidation range. There is a squeeze in the daily chart following the consolidation of the past few days. Despite the confidence, buyers may take charge until XRP surges above $0.40, forcing the coin towards $0.45 and November highs at $0.50. Presently, XRP upside momentum is low, and the coin may fall below this week's support at $0.37. In that case, Ripple may retest $0.30 and November lows, an opportunity for aggressive traders to double down.
What to Expect from #XRP?
Ripple is under pressure, as visible in the daily chart. To illustrate, XRP is down 31 percent from September highs. Although there have been gains, XRP bulls have failed to follow through, heaping more pressure on the coin.
Resistance level to watch out for: $0.40
Support level to watch out for: $0.37
Disclaimer: Opinions expressed are not investment advice. Do your research.
Ripple prices are dropping, aligning with the broader state of crypto. As it is, there are lower lows relative to the upper BB, an indicator of fizzling upside momentum. Overall, XRP is within the November 9 bear candlestick, a net bearish despite the general trader confidence in the tail end of 2022.
#Ripple Technical Analysis
XRP prices are broadly within a consolidation range. There is a squeeze in the daily chart following the consolidation of the past few days. Despite the confidence, buyers may take charge until XRP surges above $0.40, forcing the coin towards $0.45 and November highs at $0.50. Presently, XRP upside momentum is low, and the coin may fall below this week's support at $0.37. In that case, Ripple may retest $0.30 and November lows, an opportunity for aggressive traders to double down.
What to Expect from #XRP?
Ripple is under pressure, as visible in the daily chart. To illustrate, XRP is down 31 percent from September highs. Although there have been gains, XRP bulls have failed to follow through, heaping more pressure on the coin.
Resistance level to watch out for: $0.40
Support level to watch out for: $0.37
Disclaimer: Opinions expressed are not investment advice. Do your research.
