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Ripple Technical Analysis

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At the moment, the Ripple course is recovering after falling to $ 0.51. This happened after the breakout of the resistance of the bearish trend line at the level of $ 0.61 on the hourly chart of the pair XRP / USD (according to XRP / USD data).

However, at $ 0.72, the pair faced resistance, which only recently was overcome.

Yesterday it was possible to observe a significant drop in the rate of XPR from the level above $ 0.70 to $ 0.50, as a result of which the support levels were broken: $ 0.66, $ 0.60 and even $ 0.55. Recovery correction began after reaching a minimum of $ 0.51. The XPR rate went up 23.6% compared with a drop from $ 0.96 to $ 0.51.

Ripple Price Technical Analysis XRP USD

More importantly, the breakthrough of the key bearish trend line was made at the level of $ 0.61 on the hourly chart of the pair XRP / USD. At the moment, it is above $ 0.70. Nevertheless, the rise faced a strong resistance at around $ 0.72 – a barrier that used to play the role of a support line.

The MACD indicator returned to the bull zone. The index of relative strength due to all forces tries to hold above 50. However, resistance was overcome, and at the time of writing, Ripple is trading at $ 0.78. The support line is currently at the level of $ 0.62.

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