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Ripple Technical Analysis: XRP/USD approaches critical $0.4240 support

  • XRP/USD refreshes 2-week low at 0.4299 as sellers return following Wednesday’s modest recovery.  
  • The RSI on the daily chart suggests that the pair could edge lower before becoming technically oversold.
  • A decisive break below 0.4240 could trigger a fresh selling wave.

XRP/USD daily chart

Spot rate:                    0.4332

Relative change:         -3.5%

High:                            0.4492

Low:                             0.4299

 

Trend:                          Bearish

 

Support 1:                  0.4240 (Jun. 29 low/2018 low).

Support 2:                  0.3500 (bottom line of the daily linear regression channel).    

Support 3:                  0.3000  (psychological level).    

Resistance  1:             0.4500  (daily high/psychological level).

Resistance 2:             0.4690 (20-DMA).

Resistance 3:             0.5000 (psychological level/static resistance).

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