Ripple can correct to support area and then start to rise

12 Mar

Hello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price a not long time ago started to rise in an upward channel, where it first made a fake breakout of 0.5825 level, which coincided with the buyer zone and then rebounded up to the resistance line of the channel. Then XRP rebounded from this line and made the correction, but soon it turned around and rose to the current support level, which coincided with the support area, after which the price turned around and made a strong downward impulse to 0.5385 points, thereby exiting from the upward channel. Also, price started to trades in a triangle, where it rebounded from support line and made impulse up higher than the 0.5825 level, after which XRP made correction to this level. Then price repeated the upward impulse, and at this moment it exited from the triangle and reached the current support level and soon broke it. After this, the price continued to move up, but recently it turned around and started to decline to support area, after which it bounced up, so now I think that Ripple can decline to support area again and then rebound up. Therefore I set my target at the 0.7360 level. Please share this idea with your friends and click Boost 🚀