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Ripple technical analysis: XRP/USD delays symmetrical triangle breakout

  • Ripple is exchanging hands at the apex of a symmetrical triangle as a breakout beckons.
  • Ripple’s technical levels stay defiantly positive even as retracement is witnessed across the board.

Spot rate: $0.2989

Relative change: 0.004038

Percentage change: 1.31%

Trend: Bullish

Volatility: Low

Support: $0.28, $0.24 and $0.22

Resistance: $0.32, $0.32 – $0.33.

XRP/USD daily chart

Ripple mains a high low pattern since the plunge on September 24.

The Relative Strength Index (RSI) shows that the bulls are generally in control despite the up and down movements witnessed this week.

XRP/USD 240′ chart

The price grinds higher within a sing channel; channel support and resistance have been tested numerously.

Ripple bounces off the channel support as all eyes focus on the levels above $0.30.

XRP/USD 60′ chart

Ripple bulls have no choice but to break above the supply zone at $0.32 – $0.32 to unlock their bullish mantra.

 

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