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POLYGON (MATIC) AND RIPPLE (XRP)



This weekend you chose Polygon (MATIC) and Ripple (XRP). What has happened since our last chart analysis? Are we finally seeing signs of a trend reversal or is the downward trend continuing?

Polygon (MATIC) has started to recover slightly after the last few weeks, which is completely normal after such a rally. We are currently at around USD 2.05 and have only tested our weekly support beforehand.

If we do not manage to maintain our current level or the range of USD 2.00 in which our weekly support S1 is, we could face another sale in the region of USD 1.80.

This is where our next stronger support zone or liquidation zone is located. The 200-SMA (last 200 average prices / purple) on the 4H chart is exactly in this zone, which is particularly strong support for altcoins.

Even with Polygon versus Bitcoin, we can see a bearish divergence in the RSI, which has not really played out yet and is therefore still within the range of possible for another dump.

At the moment we are at around 0.000041 BTC. Directly below us is a large 12H support zone, which should hold up. Otherwise we are threatened with a reset in the range of approx. 0.00003 BTC.

In MACD we already have a bearish crossover seen. However, this indicator is usually a latecomer, which means that it only becomes bearish after the correction and therefore no clear statements can be made at the moment.

In contrast to our last chart analysis, Ripple has hardly changed and is still in a clear downtrend. Even if it seems that we may be bottoming out.

We are currently at around USD 0.81, which is exactly at weekly support P, but still below the 4H-EMA ribbons, which are still strong resistance to continue to rise.

Furthermore, there is the possibility of falling again into the range around 0.58 - 0.63 USD as soon as we break the 0.75 USD. Since there is no support in between, it could lead to a quick sale.

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