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Technical Analysis

XRP/USD Technical Analysis: More Selling Pressure

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xrp price

Main points to consider today.

  • Ripple’s XRP price today is consolidating between $0.27100 and $0.27850.
  • Resistance was broken on volume spike with immediate retracement.
  • XRP still needs to pass the price level of $0.285 for bulls to take control.

XRP/USD 1 hour chart

XRP/USD price is still fluctuating in the zone of consolidation. The current level of support is $0.27100, whereas resistance at the moment is $0.27850. That level of resistance was already broken once on higher than average volume and high momentum. However, the candlestick formed a high tail with a price immediately retracing to the consolidation zone. The selling pressure may force XRP/USD price to look for new support in the region of $0.26600, before a trend reversal.

The bulls are still not applying enough purchasing pressure for the price to go above the current resistance and liquidity area. The $0.28500 is still a barrier that bulls need to tackle and break in order to regain control of the market.

Disclaimer: Markets, instruments and advices on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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