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Ripple course continues to crash - does it find support?



The Ripple price plunges further into the depth. Can the XRP price find support soon and initiate an upward movement?


XRP rate was previously rejected at two Fibonacci resistors

Previously, the Ripple price was rejected at the golden ratio at USD 2.1, whereupon the XRP price corrected to around USD 0.52. This is exactly where the 50-month EMA is currently located. Ripple was then able to rise to the next Fib resistance at around USD 1.3, where it met again with rejection. This means that the XRP price is currently at trend line support.


Ripple course is located at Golden Ratio Support

This trendline runs through the important golden ratio support, which is at USD 0.85. Should the Ripple price bounce off this now strongly, the Ripple price could again reach 1.3 USD, where it meets the 0.382 Fib resistance. However, the MACD is very bearish in the course of the week, which signals a continuation of the downward movement. Should Ripple break through the current support, it will find strong support again at the 200-day EMA at USD 0.525.


In the daily rate, the Ripple course is facing a death cross

In addition, the Ripple price in the daily chart is facing a death cross, which would confirm the trend in the medium term bearish. The MACD, on the other hand, signals a short-term upward movement. Ripple could very well ricochet off the current golden ratio support and rise to around USD 1.3.


Against Bitcoin, the XRP price bounced off the 50-month EMA

Against BTC, the XRP price reached the support zone between 0.00000452 - 0.0000116 BTC a few months ago. There Ripple rebounded very strongly, which was accompanied by a massive increase in trading volume. However, Ripple was subsequently rejected at the 50-month EMA, whereupon Ripple currently appears to be moving back to support. Should XRP manage to break the 50-month EMA resistance at a later date, it will find its next significant resistance at 0.00009782 BTC.

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