Ripple defends the short-term 61.8% Fibo support. Upward action above $0.30 is still a possibility as long the technical picture keeps improving. Ripple is battling a weak but developing bearish wave towards the end of the Asian trading session on Wednesday. This follows a loss of traction after impressive gains which started earlier in the week, failed to break above the key $0.30 level. The price action has been pressing down on the immediate key support areas including the 61.8% Fibonacci retracement level with the last high from $0.3269 to a low at $0.2126 and $0.28. In spite of the correction, XRP has stayed above the Simple Moving Averages (SMAs) where the 50 SMA on the four-hour chart is offering support at $0.28. Similarly, the 100 SMA is functioning as support at $0.2668. Ripple is also trading within the confines of an ascending channel. The lower trendline has been instrumental when it comes to the formation of a higher low pattern. The Relative Strength Index (RSI) suggests that action to the north is still a possibility. The RSI has defended the level at 50 and is now pointing upwards as buyers struggle to regain control of the price. XRP/USD 240′ chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum price analysis: Bears retain stranglehold as ETH/USD struggles to stay in the $180-zone FX Street 4 years Ripple defends the short-term 61.8% Fibo support. Upward action above $0.30 is still a possibility as long the technical picture keeps improving. Ripple is battling a weak but developing bearish wave towards the end of the Asian trading session on Wednesday. This follows a loss of traction after impressive gains which started earlier in the week, failed to break above the key $0.30 level. The price action has been pressing down on the immediate key support areas including the 61.8% Fibonacci retracement level with the last high from $0.3269 to a low at $0.2126 and $0.28. In spite of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
