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Crypto tags:
#RippleNews #CryptoNews
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Transcript:
0:00:00 Ripple Price (XRP) Retreating From $0.32 But Approaching Supports
0:00:05 This update is brought to you by "CoinCheckup News Updates" and was originally published on "NewsBTC".
0:00:11 Ripple price extended gains and traded towards the $0.3250 resistance area against the US dollar.
0:00:19 The price is currently correcting sharply and is trading below the $0.3000 support area.
0:00:26 There was a break below a key bullish trend line with support at $0.3050 on the hourly chart of the XRP/USD pair.
0:00:35 The price is likely to find a strong support near the $0.2840 and $0.2800 levels in the near term.
0:00:44 Ripple price is correcting gains from the recent high against the US Dollar and bitcoin.
0:00:50 XRP price could retest the $0.2800 support area before a fresh increase.
0:00:56 Yesterday, we saw a massive rally in ripple price above the $0.3000 resistance against the US Dollar.
0:01:04 The XRP/USD pair even broke the $0.3120 resistance and posted a new monthly high.
0:01:12 A swing high was formed near $0.3272 before the price started a downside correction.
0:01:19 There was a sharp decline below the $0.3150 and $0.3050 support levels to start the current correction.
0:01:28 Additionally, there was a break below the 23.6% Fibonacci retracement level of the last major rally from the $0.2562 low to $0.3272 high.
0:01:40 More importantly, there was a break below a key bullish trend line with support at $0.3050 on the hourly chart of the XRP/USD pair.
0:01:50 The pair is now trading close to the 50% Fibonacci retracement level of the last major rally from the $0.2562 low to $0.3272 high.
0:02:01 The next key support is near the $0.2850 and $0.2840 levels.
0:02:09 Moreover, the 61.8% Fibonacci retracement level of the last major rally from the $0.2562 low to $0.3272 high is near the $0.2835 level.
0:02:22 Therefore, the price is likely to find a decent buying interest if it reaches close to the $0.2800 support area.
0:02:30 If there are more downsides, the next major support is near the $0.2650 level.
0:02:37 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "NewsBTC", who originally published this news update on their website.
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