CandleFocus Ripple Price Analysis: After Finding Strong Support, Is $0.64 Next for XRP?
2024-09-15
Author: Content Editor
Ripple has experienced a bullish rebound after finding strong support at the 100-day and 200-day moving averages. The price is now heading towards a key resistance level at $0.64, which may slow down the upward momentum. If the resistance is broken, it could lead to a bullish continuation and a shift in market sentiment. On the other hand, if sellers regain control at this level, the price could decline back to the $0.55 support area. On the 4-hour chart, Ripple has also found strong support at Fibonacci retracement levels and a descending flag pattern, triggering a bullish reversal. The price is now climbing towards the upper boundary of the flag at $0.62, which, if breached, could lead to further bullish momentum. Failure to overcome this resistance could result in a bearish pullback towards the $0.53 support.
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