XRP/USD 1DAY UPDATE BY CRYPTO SANDERS
Hello, welcome to this XRP/USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:- On the daily chart, the negative momentum slowed marginally as the asset approached the support zone in the $0.3 to $0.33 region (in green). However, this cannot be considered the end of the downward spiral.
After 50 days, XRP hit the descending line (in yellow), which now serves as support. If the pair closes below this level, the price is anticipated to fall to around $0.24- something it has not seen since January 2021. Until the price can reclaim resistance at $0.42 (in red), it is premature to talk about the end of the downtrend.
A break and close below $0.30 would likely be accompanied by heightened selling pressure. In this circumstance, a prolonged bear market becomes very likely.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
I have tried my best to bring the best possible outcome to this chart.
Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis.
CHART ANALYSIS:- On the daily chart, the negative momentum slowed marginally as the asset approached the support zone in the $0.3 to $0.33 region (in green). However, this cannot be considered the end of the downward spiral.
After 50 days, XRP hit the descending line (in yellow), which now serves as support. If the pair closes below this level, the price is anticipated to fall to around $0.24- something it has not seen since January 2021. Until the price can reclaim resistance at $0.42 (in red), it is premature to talk about the end of the downtrend.
A break and close below $0.30 would likely be accompanied by heightened selling pressure. In this circumstance, a prolonged bear market becomes very likely.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
thank you.
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