Ripple Technical Analysis: XRP/USD finds support at the hourly trendline
- Ripple has moved 0.73% lower today as general crypto sentiment remains weak.
- There is a trendline on the hourly chart that has been tested and the market found support.
XRP/USD Hourly Chart
Ripple has consolidated on the hourly chart after dropping from 0.2338 to 0.2197.
The market has made a few higher lows but now looks to be testing lower levels.
0.22 is the psychological support zone and if taken out, could indicate lower levels are on the cards.
On the topside the bulls are looking to target the next resistance is at 0.2247 and if the price is to retest the 0.2338 level the first support needs to be taken out with good volume.
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Additional Levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
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