Search ForexCrunch
  • Ripple trades 3.2% lower on Thursday as sentiment remains weak.
  • The price has found some support at the 50% Fibonacci retracement level.

XRP/USD Daily Chart

Ripple is trading lower by around 3% on Thursday.

The price has found support around the 50% Fibonacci level which is close to a key support zone.

Noticeably the volume has also increased to which shows the market is backing the move lower.

If 0.25 breaks to the downside this sell-off could get much worse.

On the upside, 0.30 needs to be broken again for any sign that the bulls are back in control.

Ripple analysis

Additional Levels

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.