Ripple Price Analysis: Correction With Crucial Support Nearby After Rally
Ripple price started a downside correction after a sharp rally above $0.3200.
XRP remains well bid on the downside near the $0.3050 and $0.2990 support levels.
Ripple price faced sellers near the $0.3250-0.3260 area and corrected lower.
The $0.3040 support area acted as a strong support and the price bounced back above $0.3060 and the 25 simple moving average.
The price is currently trading well below the $0.3150 resistance level, with a minor bearish angle.
To start a fresh upward move, the price must break the $0.3140 and $0.3150 resistance levels.
Should ripple fail to stay above the $0.2990 support, there could be a sharp U-turn in the near term towards the $0.2900 and $0.2910 levels.
Latika Mehrotra’s original article for blockonomi.com reduced by 59%
Related cryptocurrency news – Price Watch: Bitcoin, Ethereum, Ripple & EOS Price Analysis 8th February
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