RIPPLE – ALTCOIN CHART ANALYSIS

Ripple (XRP) unfortunately failed to confirm horizontal resistance as support. Although we saw a voluminous breakout, the retest could not withstand.

We are currently trading at around USD 0.37 at our monthly support P. The RSI is in a neutral area and the trading volume has recently decreased significantly.

As long as we don't break the area around USD 0.36 with a 4H close, we should continue to consolidate, otherwise a correction to around USD 0.34 is imminent.

On the daily chart, it will be very important that we confirm the horizontal resistance as support. Only then can we start a new run into the upper resistance box.

There is also the monthly resistance R1, at which we were rejected in July. So it's important that we don't get sold out again right away.

If, as mentioned above, the area around USD 0.36 breaks, we could first get a correction and then a sideways phase until we have enough strength to start the area around USD 0.37 – 0.38 again.

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