Ripple Price Analysis: XRP Continues Correction Movement in Daily Chart - Latest cryptocurrency news

Ripple Price Analysis: XRP Continues Correction Movement in Daily Chart

The daily chart of Ripple indicates that it is following an ascending channel formation and continues its correction movement after facing resistance in the rally on November 14. If it closes above the EMA 7 (blue level) with daily bars, it is suggested that the short-term downtrend may come to an end.

The most important support levels to watch in the daily chart of Ripple are listed as 0.6032, 0.5738, and 0.5407 dollars, respectively. If it closes below the 0.5407 dollar level, which intersects with the EMA 200 (red line), a significant loss of momentum for XRP may occur.

Technology & Populer Science News: Newslinker.co

The significant resistance levels in the daily chart of XRP are stated as 0.6289, 0.6508, and 0.6860 dollars, respectively. Especially, a close above the 0.6508 dollar level may indicate an exit from the correction movement and a gain of momentum in the short term.

In the four-hour chart of Ripple, the first prominent formation is the descending channel formation, and it is explained that XRP broke the resistance with its recent upward movement and found support at the EMA 200 level, drawing the attention of investors.

The most important support levels that Ripple should observe in the four-hour chart are listed as 0.6032, 0.5903, and 0.5761 dollars, while the most important resistance levels are 0.6241, 0.6401, and 0.6527 dollars. Especially, a close above the 0.6241 dollar level is mentioned to provide momentum gain for XRP.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
You can follow our news on Telegram, Twitter ( X ) and Coinmarketcap