Ripple price analysis: XRP/USD bulls bounce back from the bears biting, price looking to shoot back up to $0.5000 in the near-term

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  • Ripple price has managed to receive some buying interest, within a touted demand zone.
  • Descending trend line and 100MA acting as near-term resistance, however eyes are locked on for potential return to $0.5000.

 

 

XRP/USD 30-minute chart

 

Spot rate:                    6096.10

Relative change:         -0.85%

High:                            6245.30

Low:                             6068.50

 

Trend:                          Bearish

 

Support 1:                   0.4720, demand zone.

Support 2:                   0.4675, (support on 30-minute chart).

Support 3:                   0.4390, 24th June low.

 

Resistance 1:             0.4855, 38.2% Fibonacci.

Resistance 2:              0.4910, descending trend line & 100MA.

Resistance 3:              0.5000, 50% Fibonacci & supply zone entry.

 

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