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Stabilizing on’s XRP Hourly Chart


Ripple XRP Chart (daily)

2/3 – is currently undergoing a similar mild correction. Accordingly, the native cryptocurrency lost around 6.4% of its value on Tuesday and was last traded at a price of 1.1967 dollars. The daily high offers immediate resistance at 1.2219 while the daily low was formed at 1.1212.

Ripple: Daily chart

The token remains well supported on the Ripple daily chart as the 78.6% Fibonacci retracement of the 0.5175-1.3480 movement held at 1.1702 on a daily closing price basis.

Meanwhile, the RSI is in the overbought territory at 72.81, suggesting a continuation of the consolidation / correction.

Should the 78.6% Fibonacci retracement of 1.1702 on the daily closing price basis be broken, the downward correction can be extended to the 61.8% Fibonacci retracement of 1.0307.

On the other hand, if there is a daily closing price above the recent high of 1.3480, further gains will be in the direction of the 123.6% Fibonacci extension of 1.5440.

Ripple: XRP / USD hourly chart

On the hourly chart, the XRP price reached its low for the day at 1.1212, which simultaneously tested the 50% Fibonacci retracement of the upward movement from 0.9246-1.3480.

This retracement is at 1.1363 and should it break the downward correction to the 38.2% retracement of 1.0863 and the 23.6% retracement of 1.0245 can continue.

Meanwhile, the RSI has rebounded from overbought conditions and at 43.38 there is scope for short-term gains.

A spurt above the 78.6% Fibonacci retracement at 1.2574 opens the door for a test of the recent high at 1.3480. In addition, the upward movement to the 123.6% Fibonacci extension of 1.4479 can be driven forward.

From Marco Oehrl

A notice: This article does not constitute investment advice or a solicitation to buy or sell any asset. Nor does it purport to predict the development of the XRP price. It is only a subsequent comment on the XRP development, which is intended to inform Ripple investors about the latest crypto news and the technical starting position of the XRP / USD.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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