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These support zones will help cushion XRP’s jump down the ladder
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A descending channel breakdown heightened XRP’s losses. It was trading at a 9.3% discount over the last 24 hours. With XRP slipping below 20-SMA (red) and 50-SMA (yellow), a double bottom at $0.86 could initiate trigger a bullish comeback, should the price weaken below its 200-SMA (green) as well.
Source: XRP/USD, TradingView
XRP’s up-channel breakdown was in line with expectations following some weak signals on its indicators. While an earlier article did suggest that traders could go long at the 38.2% Fibonacci level, much FUD still persisted in the market following BTC’s 9% correction.
In fact, XRP now threatened to close below the confluence of its 200-SMA (green) and 23.6% Fibonacci level following a weak RSI and a sell signal along the
Read more on ambcrypto.comAbout this in other media
Is this XRP’s last held support before a confirmed bearish trend ambcrypto.com /2 years ago
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