Ripple Technical Analysis: XRP/USD vital near-term demand zone saving the price from a fresh wave of selling pressure

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Ripple Technical Analysis: XRP/USD vital near-term demand zone saving the price from a fresh wave of selling pressure
Ripple Technical Analysis: XRP/USD vital near-term demand zone saving the price from a fresh wave of selling pressure
  • Ripple trading firmly in the red, losses seen at just shy of 3%, in the latter part of Tuesday. 
  • XRP/USD key near-term demand area is propping up the price, preventing huge selling pressure. Buying areas are seen within $0.4700 and then $0.4500-0.4300.
  • Key supply areas of note; $0.5000 and $0.5500 seen on 60-minute chart view. 

 

 

XRP/USD 60-minute chart 

Chart to follow.

 

Spot rate:                  0.47970

Relative change:      -2.80%

High:                         0.49365

Low:                          0.46921

 

Trend:                       Bearish

 

Support 1:                0.47000, demand zone.

Support 2:                0.46800, support on 60-minute.

Support 3:                0.45500, buying area.

Resistance 1:           0.49000, supply zone.

Resistance 2:           0.50000, psychological resistance.

Resistance 3:           0.55000, supply area.

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