XRP showed good positive reactions to its support!
XRP showed good positive reactions to its support ranges during the last week. After retracing its previous bottom, Ripple received good support from buyers and managed to post a 21% gain again. A trend has formed between the support range of $0.32 to $0.29 and the resistance range of $0.39 to $0.42.
Considering that the strength of both ranges is high, the probability of the price trend continuing between these levels is higher. Unless more selling pressure develops in the market and Bitcoin breaks through the $15,000 price channel, in this case, by breaking the current support of Ripple, the price decline can continue until the bottom of the descending channel. The support in the $0.200-$0.7 range has a high potential for a positive reaction and the beginning of a trend reversal from this area. In the current situation, the price is above the midline of the long-term descending channel, and this has strengthened the static support.
Considering that the strength of both ranges is high, the probability of the price trend continuing between these levels is higher. Unless more selling pressure develops in the market and Bitcoin breaks through the $15,000 price channel, in this case, by breaking the current support of Ripple, the price decline can continue until the bottom of the descending channel. The support in the $0.200-$0.7 range has a high potential for a positive reaction and the beginning of a trend reversal from this area. In the current situation, the price is above the midline of the long-term descending channel, and this has strengthened the static support.
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