Ripple (XRP) Price Analysis: Can Buyers Keep The Rebound Going?

Yesterday, there was a sharp drop in ripple below the $0.3220 and $0.3205 support levels. XRP traded close to the $0.3120 support, formed a new weekly low at $0.3123, and recently started a slow and steady rebound above the $0.3200 level.

Looking at the 30-minute chart of XRP/USD, the pair traded as low as $0.3123 and bounced back towards the $0.3220 resistance in the wave 1. Later, there was a minor dip towards the $0.3170 level in the wave 2. A swing low was formed at $0.3172 and the price jumped above the $0.3220 resistance plus the 25 simple moving average (30-minute chart). The third wave completed near the $0.3290 level and the price is currently trading in a tight range. Similarly, there were decent gains in bitcoin, ethereum, bitcoin cash, EOS and other altcoins.

Reference: https://blockonomi.com/ripple-xrp-price-analysis-can-buyers-keep-the-rebound-going/

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Author: Neo Anderson

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