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  • XRP/USD makes a technical correction on Wednesday following three straight days with losses, stays dangerously close to 2018 lows.
  • On the daily chart, the descending linear regression channel’s mid-line acts as a short-term  support.

XRP/USD daily chart

Spot rate:                    0.4486

Relative change:         +1.33%

High:                            0.4516

Low:                             0.4390

 

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:             0.4715  (20-DMA).

Resistance 2:             0.5000 (psychological level/horizontal resistance).

Resistance 3:             0.5475 (50-DMA).